Crypto rout triggers nearly $1.5B in liquidations in 24 hours as leverage gets crushed

A sharp crypto selloff has unleashed a wave of forced liquidations, with total wipeouts climbing to $1.49 billion over the past 24 hours, underscoring heightened volatility across the market. Long positions bore the brunt of the damage at $1.23 billion, while short liquidations totaled about $259 million. The pressure accelerated in the most recent hour, when $178.9 million in positions were liquidated, including $158.4 million in longs. Over the past 12 hours, liquidations topped $1.21 billion, reflecting the scale of the correction as leveraged trades were flushed out.