Liquidity of the entire network contract is 266 million USD, what happened?

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On May 10th, data from Coinglass revealed that the cryptocurrency market experienced a total liquidation of 266 million USD in the past 24 hours. Of that, 120 million USD was liquidated from long positions and 146 million USD from short positions.

The liquidation amount for Bitcoin (BTC) reached 21.2169 million USD, while the amount for Ethereum (ETH) rose to 90.1328 million USD. This information is intended to provide market insight and should not be considered investment advice.

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