According to liquidation data from CoinGlass, the crypto markets have experienced more than $180 million in liquidations in the last 24 hours alone.
Since January 13th, short sellers have been hit with over $600 million in liquidations, according to the crypto data platform.
In the last 24 hours, Bitcoin liquidations have hit $34.71 million. The leading crypto by market cap is trading for $21,009 at time of writing, up 23% over the last seven days.
Over the same period, Ethereum liquidations have reached $47.59 million. The leading smart contract platform by market cap is trading for $1,553 at time of writing, up 21% in the last week.