Crypto Markets Wipe Out $373 Million in Leveraged Positions in One Hour

Crypto markets have experienced a sharp selloff in recent hours, resulting in over $373 million in leveraged positions being wiped out across major exchanges.

The sudden price drop in Bitcoin and other major digital assets triggered cascading margin calls, leading to the liquidation of long positions.

According to data from derivatives tracking platforms, total futures liquidations have reached $603 million over the past 24 hours, with the majority occurring in the last hour.

The majority of the liquidated positions were held by traders who had used high leverage, often exceeding 20x, which amplified the impact of price swings and made the market particularly vulnerable to rapid cascades.