I just analyzed the forced liquidation situation of cryptocurrency perpetual contracts in the past 24 hours, and the data is quite interesting.

The liquidation volume for BTC reached $47.32 million, with long positions accounting for as much as 91.39%, indicating that the long side was hit hard. ETH follows closely, with a liquidation volume of $21.18 million, and longs making up 74.9%. In contrast, ZEC's situation is reversed, with a liquidation of $5.52 million, where shorts were largely cleared, accounting for 94.88%.

Looking at the global three major derivatives exchanges' BTC perpetual contract long and short positions, the overall trend is slightly bearish. Combining data from all platforms, longs account for 49.49%, shorts for 50.51%, roughly a 50/50 split with a slight tilt towards the short side. Specifically, on a leading platform, the long-short ratio is 50.34% vs 49.66%, with longs maintaining a slight advantage. On a large platform, the bias is clearly bearish, with longs at 48.15% vs shorts at 51.85%. Another derivatives exchange falls in between, with longs at 48.92% and shorts at 51.08%.

Overall, the market is currently in a stage of relatively balanced but slightly cautious long and short forces, with bearish sentiment reflected across major platforms.