Overnight, a significant $607 million was wiped out from crypto exchanges in leveraged bets, sending shockwaves through the market. The sudden sell-off left traders scrambling, exposing both bullish and bearish positions to losses. Bitcoin, Ethereum, Solana, and XRP all experienced sharp price swings during this volatile session. 149.48 million in Bitcoin’s leveraged positions were liquidated alongside 174.54 million in Ethereum investments. While these figures paint a picture of substantial losses, it’s worth noting that the overall $420.76 million in long positions destroyed was greater than $186.87 million worth of shorts. This imbalance suggests a sudden shift in market sentiment.