254,045 crypto traders liquidated in 24 hours as $1.67 billion in positions wiped out
AI summary
A total of 254,045 crypto traders were liquidated within 24 hours as $1.67 billion in leveraged positions were wiped out. The scale of the flush points to crowded leverage being unwound during a volatile stretch, a classic sign of forced selling that can amplify price swings. Traders should watch funding rates and open interest for signs of further deleveraging or a leverage reset.
