$515 million in crypto positions were forcibly closed in 24 hours, primarily affecting Bitcoin and Ethereum futures. Major exchanges involved include Binance, Hyperliquid, OKX, and Bybit, which regularly process volumes exceeding $100 million during volatile periods. On September 16, a comparable event saw $571 million in long positions wiped out after the Clarity Act failed to advance in the US Senate, with BTC and ETH each absorbing roughly $190 million in liquidations. Open interest in BTC and ETH futures currently sits in the tens of billions of dollars, amplifying the impact of such events on prices.
Source: Read the original article
