Crypto Market Suffers $1.03 Billion Liquidation Wave: Impacting Major Exchanges and Traders

A significant liquidation wave impacted over 187,107 traders across major cryptocurrency exchanges, resulting in a loss of nearly $1.03 billion within the past 24 hours. The primary targets were Bitcoin (BTC) and Ethereum (ETH), with notable losses exceeding $243 million for Bitcoin alone. This event affected exchanges such as Binance, Bybit, and Hyperliquid, who saw over $180 million in forced liquidations primarily targeting long positions anticipating price increases.