Hedera Exploit Rocks Crypto Markets as Bitcoin Faces $475M Liquidation Threat

The Hedera Network has reportedly been hit by an exploit, resulting in losses exceeding $5 million.

Meanwhile, Bitcoin's price movement is approaching a critical juncture that could trigger a wave of forced liquidations across major cryptocurrency exchanges. According to data from CoinGlass, a leading analytics platform tracking futures market activity, short positions totaling $475.11 million on centralized exchanges (CEX) would be liquidated if Bitcoin's price surpasses $65,019.

Conversely, long positions valued at $513.59 million are at risk of liquidation if the price falls below $63,059. These levels represent clusters of leveraged positions where many traders have placed bets on Bitcoin's direction, making them potential pivot zones for the market.