Crypto Market Flash Crashes by $108B in 6 Minutes

The cryptocurrency market experienced its largest flash crash since October 2025, resulting in over $108 billion being wiped out in just six minutes. The total market value fell from $2.68 trillion to $2.55 trillion as selling pressure increased.

According to CoinGlass, a staggering $1.71 billion was liquidated in the past 24 hours, with 281,846 traders facing losses. Long positions were hit hardest, with $574 million being wiped out in just four hours.

The sharp decline also affected crypto derivatives markets, with open interest across cryptocurrencies falling by $3.34 billion, or 5.18%, in a short period. This leaves total open interest at around $55.60 billion.