$3B Gone in Minutes 💥
Crypto just showed how dangerous leverage can be.
With $48B–$51B in futures open interest, Bitcoin alone represented around $24B. When BTC dropped, heavily leveraged longs started getting liquidated.
🔥 $6.89B liquidated in just 1 hour
• Longs: $4.84B
• Shorts: $2.05B
This created a liquidation cascade:
BTC drops → Longs liquidated → Forced selling → BTC drops further.
The good news? Massive liquidations can flush excessive leverage from the market.
Now watch BTC support + open interest + volume closely.
The next move could be very important.