The cryptocurrency market experienced substantial liquidations recently, with approximately $300 million liquidated in just four hours. Over the past 24 hours, total liquidations reached around $488.58 million, with the largest single liquidation occurring on Binance, amounting to $11.97 million from an Ethereum trade. The heightened volatility in the market has affected both bullish and bearish positions, contributing to the significant liquidation figures. In total, 156,705 crypto traders faced liquidation, amounting to $485.45 million in losses during the last 24 hours.