Nearly $476 million in leveraged long positions were liquidated from the crypto market in a single hour on August 22. This liquidation cascade was triggered by a modest decline of approximately 2.5% in Bitcoin’s price. Major derivatives platforms, including Binance, Hyperliquid, and Bybit, saw significant volumes during this forced selling. The event had no obvious macroeconomic trigger, no regulatory announcement, and no major protocol exploit. It was purely structural: too many traders positioned the same way, using too much leverage, on too little liquidity.
Source: Read the original article
