More than $230 million in leveraged positions were liquidated across major crypto perpetual futures over the past 24 hours, with long traders accounting for most forced closures. Bitcoin led with approximately $135.87 million liquidated, 85.85% of it from longs, followed by Ethereum at $74.92 million, with longs representing 83.06%, and XRP at $21.22 million, with 93.38% from longs. The concentration indicates that traders positioned for further gains were caught by a sudden downturn, triggering forced selling. The figures differ from an earlier record for a 24-hour period, which reported approximately $263 million in liquidations led by Ethereum, Bitcoin and Solana; the reason for the discrepancy is not specified. Perpetual futures have no expiration date and use funding rates to help align contract prices with the spot market. The episode underscores the risks of leverage, which magnifies both gains and losses, and may represent a short-term correction or a reset of excessive positioning. Traders are advised to use lower leverage, maintain sufficient margin, set stop-loss orders and monitor market conditions, funding rates and open interest.