Bitcoin and Ethereum See $191 Million in Liquidations as Cryptocurrency Market Continues Downward Spiral

The cryptocurrency market continues to experience volatility, with $191 million worth of crypto derivatives contracts liquidated in the past 24 hours. Bitcoin and Ethereum are the most impacted, with Bitcoin accounting for half of the total liquidations. The current wave of liquidations primarily affected long positions, and analysts suggest that accumulation whales may respond to halt the bearish trend for a potential rebound.