Crypto Market Experiences Sharp Sell-Off, $160 Million Wiped Out in One Hour

The cryptocurrency market experienced a sharp sell-off in recent hours, resulting in significant futures liquidations across major exchanges.

Data from leading tracking platforms shows that total liquidations over the last 24 hours have surpassed $1.12 billion, marking one of the most intense deleveraging events in recent weeks.

The sudden drop in Bitcoin's price below key support levels triggered a cascade of liquidations, with long positions being automatically closed by exchanges.