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According to Coinglass data, the total liquidation across the network in the past 24 hours was $331 million, with long positions liquidated at $175 million and short positions at $156 million. Among them, Bitcoin long positions were liquidated at $10.5391 million, Bitcoin short positions at $19.7111 million, Ethereum long positions at $62.7088 million, and Ethereum short positions at $56.0352 million. Additionally, in the last 24 hours, a total of 140,097 people were liquidated globally.

Nick Tomaino, founder of 1confirmation, stated on the X platform that BTC is the first cryptocurrency serving the people. Its grassroots spirit and belief from the bottom up have brought it from nothing to a market value soaring above $2 trillion. A store of value based on trust in mathematics rather than people is changing the world, but BTC has now become the preferred institutional asset for large companies and governments. One entity holds over 2.5% of BTC shares, and currently, no practical applications are being developed on Bitcoin to attract new users. Apart from being a store of value, there are no use cases to expand market share. ETH is a credibly neutral, internet-native store of value tool that supports a developer platform covering stablecoins, decentralized finance, NFTs, prediction markets, decentralized social, decentralized identity, and more. All new use cases driving the development of this field over the past decade have appeared on Ethereum and are continuously evolving. These use cases have attracted new users, distributed ETH as a store of value tool, and enhanced ETH's scarcity. Some believe there will only be one credibly neutral, internet-native means of value storage in the future, but they are gravely mistaken. There may be many, but currently, there are only two viable options: BTC and ETH.