Crypto Futures Liquidation Event: $118 Million Vanishes in a Single Hour

The cryptocurrency market experienced a significant flash crash as over $118 million worth of crypto futures contracts were liquidated within just one hour. This sudden downturn, which contributed to a staggering $420 million in liquidations across major exchanges within the past 24 hours, left many traders struggling with unexpected losses. This event offers insights into the dynamics of leveraged trading and its potential impact on market volatility.