The cryptocurrency market is experiencing a devastating downturn, with investors suffering significant losses in futures trading. The situation is worse than expected, with many users facing substantial losses. According to CoinGlass data, over $440 million worth of positions were liquidated in the last 24 hours, with Ethereum leading the losses.

The majority of the liquidations were long positions, with Ethereum accounting for $378.52 million of the total losses. Losses in short positions were also significant, reaching over $60 million. Leading DeFi and cryptocurrency investors lost a staggering $68.44 million, while bears in Ethereum short positions lost $16.27 million. The largest single liquidation was a whopping $6.44 million, which occurred on the Binance exchange in a USDC-ETH transaction.

Bitcoin also saw significant losses, with bears and bulls losing $69.83 million. The market experienced a significant shock in overall volume, with the Crypto Total Market Cap Index (TOTAL) falling from $2.385 trillion to $2.249 trillion. As of writing, Bitcoin is trading at $64,800, a 0.69% drop, with a market cap of $1.27 trillion. The 24-hour trading volume surged by 80%, exceeding $37 billion, indicating a significant increase in selling activity driven by market fear.

The current state of the market is bleak, with many investors facing significant losses. The liquidation data shows that the majority of the losses were in Ethereum, followed by Bitcoin. The "other" cryptocurrency group also saw significant losses, with many investors facing substantial losses. The market is experiencing a significant downturn, with many investors selling their assets in fear.

In conclusion, the cryptocurrency market is experiencing a massive bloodbath, with investors losing millions. The situation is worse than expected, with many users facing significant losses. The market is experiencing a significant downturn, with many investors selling their assets in fear. The liquidation data shows that the majority of the losses were in Ethereum and Bitcoin, with many investors facing substantial losses. The market is expected to continue its downward trend, with many investors facing significant losses.