The cryptocurrency market experienced a significant downturn on [Date of the article] as over $1.23 billion vanished from trader positions within a single day. This sudden sell-off triggered panic across exchanges, wiping out nearly $270 billion in total market value and impacting all major cryptocurrencies. Over 305,000 traders were affected by this market crash, according to Coinglass data, with long and short positions alike experiencing significant losses. The largest losses occurred on Ethereum, where a trade on Hyperliquid was worth $20.4 million. Bitcoin saw $431 million in liquidations, followed by Ethereum ($267 million), Solana ($89 million) and XRP ($27 million). !