Nearly $240M in Crypto Liquidated in 60 Minutes — Longs…

A wave of forced liquidations swept through crypto markets in the past hour, with over $239.83 million in positions wiped out in just 60 minutes. Long positions bore the brunt of the damage, accounting for $234.29 million — roughly 98% of the total — a sign that leveraged bulls were caught badly offside.

The speed and scale of the flush points to a sharp, sudden price move that cascaded through overleveraged long books. When longs dominate liquidation figures this heavily, it typically signals a rapid downward price shock rather than a two-sided deleveraging event.

For traders watching positioning, a liquidation event of this magnitude in a single hour resets the leverage landscape meaningfully — but it can also clear the path for a technical bounce once the forced selling exhausts itself.