Bitcoin's price surged briefly, touching a new all-time high above the $69,000 mark on Tuesday. However, the peak was fleeting, and a swift pullback to the mid-$65,000 range led to a surge in the liquidation of leveraged positions. Price volatility over the past 24 hours led to substantial liquidations of long positions on centralized exchanges. This volatility resulted in the liquidations of more than $197 million in bitcoin positions, with the majority ($108 million) being shorts, according to CoinGlass data. Zooming out, the overall crypto market saw over $383 million of liquidated long positions in the last 24 hours, contributing to a total of $678 million in liquidations across major centralized exchanges, according to the data.

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