Half a Billion in Crypto Longs Wiped Out in 90 Minutes!

A violent deleveraging event swept through crypto markets, with $500 million worth of long positions liquidated in just 90 minutes. The speed and scale of the flush points to a cascading margin call cycle — as prices dropped, leveraged longs were force-closed, driving prices lower still and triggering the next wave of liquidations.

Events of this magnitude typically signal a local volatility peak rather than a clean directional bottom. Traders who survived the flush will be watching whether spot buyers step in to absorb the newly cleared order book, or whether the absence of leverage simply reveals thinner underlying demand. Until that bid materialises, the path of least resistance remains down.