According to the source, USD 198 million in crypto derivatives positions were liquidated over the last 24 hours, comprising USD 126 million from long positions and USD 72 million from short positions, source: provided X post dated Sep 22, 2025. The split equals 63.6% longs and 36.4% shorts, a long-to-short liquidation ratio of 1.75, and a net USD 54 million excess in long liquidations, source: calculations from the provided X post.