Crypto markets just witnessed a sharp pullback: Bitcoin dropped nearly $3,000 within a 45-minute window, triggering a cascading liquidation event. The move wiped out approximately $70 million in leveraged long positions as traders caught on the wrong side of the move scrambled to cover. The sudden liquidations likely fueled further downside pressure, creating a textbook cascade scenario. Keep an eye on support levels—these kinds of volatile swings often precede either deeper selloffs or notable reversals.