More than $289 million in cryptocurrency positions were liquidated within the past hour amid a sharp market swing. Long positions accounted for roughly $268 million of the total, while about $20 million came from short liquidations.
The wave of forced closures followed sudden volatility across major digital assets, triggering margin calls and cascading liquidations on leveraged trading platforms. Analysts noted that most of the losses originated from Bitcoin and Ethereum futures.
The move underscores ongoing sensitivity to leverage in the crypto market, where rapid price shifts can amplify risk exposure and accelerate liquidations during periods of heightened volatility.