A wave of selling liquidated nearly $52 million in leveraged crypto bets on chip stocks in 10 minutes on Saturday while Wall Street was closed. CoinGlass data showed about $51.6 million in forced closures between 21:22 and 21:32 UTC, including about $38 million in bets on higher prices. SOXL contracts accounted for the largest amount, about $12.7 million. The perpetual futures traded without live stock-market prices, leaving crypto traders to drive weekend prices. U.S. stock prices will provide a benchmark when markets reopen Monday.
