Bitcoin short liquidations spiked above $24 million in the past 24 hours as the price rebounded from a multi-month low of below $57,000 on Monday.

A total of $33 million in bitcoin positions were liquidated in the past 24 hours amid the volatility. The wider cryptocurrency market experienced over $112 million in liquidations during the same period. Of these combined crypto liquidations, the vast majority — around $70 million — were short positions, according to Coinglass data.

Bitcoin is holding above the $59,000 mark, having posted a 3% increase in the past 24 hours, and was trading at $57,471 at 5:45 a.m. ET, according to The Block’s Price Page. The price of ether increased by 1.3% to $2,984 in the same period.