Today's long liquidation volume is close to the monthly high at approximately 770 million US dollars

The crypto market experienced a significant bullish liquidation on Monday, totaling approximately $770 million, approaching the monthly high of January 18th. SOL and DOGE led the mainstream currencies in decline, with drops exceeding 10%, while ETH, BNB, XRP and ADA also fell by up to 9%. The overall crypto market value fell by 8.5% during Monday's afternoon trading session in Asia.

According to Coinglass data, the Bitcoin futures market lost $238 million within the past 24 hours. Of this amount, SOL and DOGE long positions collectively lost $50 million; altcoin futures lost $138 million; Ethereum futures lost $84 million.

Analysts point out that large-scale liquidations may indicate an over-leveraged market. This adjustment could provide clues for market positioning and sentiment. At the same time, price areas where a large number of liquidations occur could become future support or resistance levels. Whether the market continues to fall will depend on increases in short positions and bottom-fishing behavior from contrarian investors.

Analysts point out that large-scale liquidations may indicate an over-leveraged market. This adjustment could provide clues for market positioning and sentiment. At the same time, price areas where a large number of liquidations occur could become future support or resistance levels. Whether the market continues to fall will depend on increases in short positions and bottom-fishing behavior from contrarian investors.