Which one is correct?
You're all ignoring the fact [that ...]
You all are ignoring the fact [that ...]
Which one is correct?
You're all ignoring the fact [that ...]
You all are ignoring the fact [that ...]
Both sentences are grammatically acceptable. The first sentences is probably more common generally, because of how often "you're" is used. However, many native speakers particularly in the Southern United States would use the second sentence, albeit contracted to "Y'all are ignoring..."
Even outside of the regional "y'all", someone might say "you all" to emphasize some particular group, such as:
You all are ignoring the fact, but we have already thought about it.
This construction emphasizes that some specific group is being referred to with "you all" that excludes some other person or group ("we" in this case). I believe in British English someone might say "you lot" for this type of emphasis instead.
Again, outside of the regional "y'all" and an intentional emphasis of "you all", your first sentence will be more common.
I'd go with the first sentence. It also seems more natural sounding.
They're both right grammatically, but probably few native speakers would say the second sentence.