Crypto Market Liquidation Event: $54 Million in 1 Hour, Bitcoin & Ethereum Hit Hardest

Over $54.57 million in crypto assets were liquidated within the past hour, primarily driven by short positions totaling $45.19 million. The event saw a significant impact on Bitcoin and Ethereum markets, leading to increased volatility observed across major exchanges. This liquidation event is part of a broader trend of market instability, raising concerns about systemic risks in the crypto space.