Global liquidations reach $488M in 24 hours, long positions hit hardest

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Value investing in crypto remains a cautious strategy as global liquidations reached $488 million on August 29, according to Coinglass data. Long positions accounted for $362 million of the losses, affecting 97,829 traders, while short positions saw $126 million in liquidations. Traders using technical analysis for crypto may need to reassess their exposure, as longs represented over 70% of the total losses.

ChainThink reports that, according to Coinglass data, $488 million in total liquidations occurred across the network in the past 24 hours, with $362 million in long positions liquidated and $126 million in short positions liquidated.

Globally, a total of 97,829 traders were liquidated, with long positions accounting for over 70% of the losses.

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