Crypto derivatives traders were hit by a sharp wave of forced deleveraging over the past day, with roughly $5.78 billion in leveraged positions liquidated across major tokens—an outsized flush that underscores how quickly risk can unwind when volatility returns. Data compiled by CoinGlass shows long liquidations totaled about $3.34 billion, accounting for 57.8% of the 24-hour wipeout, while short liquidations reached roughly $2.44 billion, or 42.2%.
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