The wider cryptocurrency market has seen over $290 million liquidations in the past 24 hours. Of these liquidations, the majority — around $154 million — were long positions.

Bitcoin liquidations surged to over $108 million as the asset plummeted below the $60,000 mark, but subsequently rebounded. It is now struggling to maintain its position above the $64,000 mark. According to Coinglass data, liquidations were nearly evenly split between bitcoin longs and shorts, totaling just over $54 million and $53 million, respectively.

The largest digital asset by market capitalization increased by around 5.3% in the past 24 hours and was changing hands for $64,739 at 5:22 a.m. ET, according to The Block's Price Page. The GM 30 Index, representing a selection of the top 30 cryptocurrencies, …