$531 million worth of crypto assets were liquidated in 24 hours, according to WhaleInsider. This widespread deleveraging event triggered forced closures of leveraged positions across multiple assets and exchanges. On prediction markets, the probability of Hyperliquid reaching $100 by the end of 2026 dropped from 84% to 69%, signaling increased caution among market participants. This event underscores the high volatility in the crypto derivatives market during periods of market stress.
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