Bitcoin Flash Crash Sparks $1.26B Crypto Liquidations, $430M Wiped in an Hour

Bitcoin saw a steep sell-off over the past hour, dropping from above $61,000 to around $58,000 and sparking heightened volatility across the crypto market.

The sharp decline triggered a wave of liquidations, with Coinglass data showing that total liquidations across the crypto market reached approximately $1.265 billion over the past 24 hours, affecting more than 209,000 traders. Of that amount, more than $430 million in positions were wiped out during the last hour alone.

Source: CoinGlass