There have been significant liquidations in the crypto market over the last 12 hours, totaling $140 million, with long positions accounting for $109 million and short positions at $31.06 million. In the past 24 hours, over 404,000 traders were liquidated, with total liquidations reaching $1.7 billion, including $1.62 billion in long positions.

*Recent Liquidation Highlights:*

- _Largest Single Liquidation_: $12.74 million BTC-USDT swap on OKX

- _Global Liquidations_: 67,957 accounts suffered liquidations, totaling $135.67 million

- _Bitcoin Liquidations_: $12.17 million

- _Ethereum Liquidations_: $28.83 million

These massive liquidations are largely driven by market volatility, high leverage, and sudden price movements. Traders are advised to manage risk by using lower leverage and setting stop-loss orders.