In the past 24 hours, the crypto market experienced a total of $685.19 million in liquidation events. The largest single liquidation involved an Ethereum(ETH) transaction, amounting to $12.9 million, which occurred on a major exchange. Notably, short positions accounted for over 86% of this round of liquidations, reflecting a cautious attitude among market participants regarding the future market direction. This highly concentrated short liquidation pattern often indicates that the market may experience a reversal, and bulls could face pressure in the short term. Investors should closely monitor subsequent price movements.