Crypto Market Sees $600 Million in Liquidations Within 60 Minutes

According to Coinglass and the provided source, the crypto market experienced a sharp liquidation event across derivatives markets. The older topic cites the latest 24-hour Coinglass data showing $563 million in long liquidations, the largest one-day long wipeout since February, led by Ethereum at $244 million and Bitcoin at $160 million. It also preserves earlier lower snapshots, including $80.89 million in total liquidations over one hour and $61.94 million over a prior 24-hour period, creating a discrepancy across reported snapshots. The newer topic adds a separate report stating that $600 million was liquidated across the crypto market within 60 minutes, though it does not specify affected assets, exchanges, or whether longs or shorts dominated. Taken together, the sources point to an unusually severe and fast-moving derivatives washout, with long positions clearly dominant in the more detailed Coinglass data.