Ethereum led the sell-off with $244 million in liquidated bullish positions, followed by Bitcoin at $160 million, marking the largest one-day wipeout since February.
The crypto market recorded $563 million in liquidations of long positions over a 24-hour period, the largest single-day wipeout since February. Ethereum accounted for $244 million of the total, while Bitcoin made up $160 million. Liquidations happen when leveraged traders are forced to close positions after prices move against them, often accelerating volatility during sharp market declines.