Crypto Market Suffers Record One-Hour Liquidation of Over $130 Million

The crypto derivatives market delivered a painful lesson to leveraged bulls on September 10. In just one hour, over $130 million in positions were forcibly closed across major exchanges.

According to data from Coinglass, long traders absorbed the majority of the damage, with their liquidations totaling around $122 million. Short sellers lost approximately $7.3 million.

Ethereum took the hardest hit by asset, with roughly $49 million in liquidations. Bitcoin positions followed at about $35 million, while other altcoins and derivatives contracts made up the remainder of the losses.

The timing was tied to an unexpected rise in US Producer Price Index inflation data, which sent markets into risk-off territory. Additionally, spot Bitcoin ETF outflows surged past $120 million during the same session.