The sell-off triggered a wave of forced closures across the crypto market over the past 60 minutes, highlighting how leverage can amplify sudden price moves.
Bitcoin dropped back under $63,000, coinciding with $125 million in liquidations across the crypto market in the past 60 minutes. The move points to a rapid unwind in leveraged positions, where exchanges automatically close trades after losses breach margin requirements, often accelerating short-term volatility across digital assets.