Crypto Market Sees $576M in Liquidations as Treasury Yields Climb

A massive $576.7 million in forced liquidations rocked the crypto market over the past 24 hours, with long positions taking the brunt of the damage.

The liquidations were largely driven by a sharp macro-driven leverage flush, rather than a fundamental trend break.

According to data from AskClash, the 24-hour liquidation breakdown showed that long positions were hit the hardest, accounting for roughly 57% of the total damage.

Bitcoin led the way with $205.31 million in liquidations, followed by a broader basket of 'Others' at $191.61 million, with Ethereum coming in at $128.12 million.