$490M Crypto Futures Liquidations Wipe Out Longs

The cryptocurrency market experienced a sharp correction over the past 24 hours, resulting in approximately $490 million in liquidations across major exchanges.

The majority of these losses were concentrated in long positions, indicating that leveraged bulls were caught off guard by the price drop.

Bitcoin (BTC) futures led the liquidation wave, with $152.85 million in positions closed, a staggering 89.81% of which were long positions.

This figure highlights a broad-based deleveraging event that impacted major cryptocurrencies across the board, with Ethereum (ETH) and Solana (SOL) also seeing significant losses.