Crypto Market Hit by $521m in 24-Hour Liquidations

A fresh wave of price volatility has swept through the cryptocurrency market, resulting in a substantial $521m in liquidations over the past day.

The bulk of the losses came from Bitcoin, which accounted for more than $200m of the total, while Ethereum and other large-cap altcoins also saw significant losses. The sharp move saw more than 120,000 traders liquidated as leverage reset across major derivatives venues.