Over the past 24 hours, crypto traders faced significant losses due to a market surge, resulting in liquidations totaling $1.12 billion. Of this amount, shorts accounted for approximately $777 million, indicating bets against asset price increases, with Ethereum experiencing the largest impact as its price rose sharply. Bitcoin also saw notable gains, currently priced at over $102,858. Meanwhile, Solana has increased by about 12% during this rally. Recent liquidations were primarily driven by Ethereum's substantial price rise of nearly 25% in a week, attributed to the successful rollout of its Pectra upgrade. This upgrade is considered the most ambitious in Ethereum's history. Ethereum's price rose over $2,400, amid renewed institutional interest and positive market sentiment following global economic developments. In addition, major liquidation events impacted traders with the highest losses occurring in Bitcoin and Ethereum shorts. As the cryptocurrency market adjusts, further price movements and liquidation impacts are to be anticipated.

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