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Network-wide total liquidations exploded to 238 million USD over the latest trading session, with Bitcoin leading the forced position closures. According to Coinglass data captured at 2026-03-23 06:45, BTC total liquidations reached 109 million USD, while Ethereum followed with 51.18 million USD in liquidations. This sharp spike in total liquidations suggests significant market volatility, with traders liquidated across both long and short positions as price movements accelerated. The concentrated liquidation pattern, with Bitcoin accounting for roughly 46% of total liquidations, underscores the outsized impact on the leading cryptocurrency's trading positions.