Crypto Leverage Reset: $514M in Positions Liquidated as Markets Reverse

Source: CryptoNewsNet Original Title: Crypto Drop Wipes Out $370M in Bullish Bets as BTC, ETH Give Back Gains Original Link: Crypto markets absorbed one of their largest leverage resets in weeks over the past 24 hours, with more than $514 million in positions liquidated as a sharp intraday swing triggered forced selling across major derivatives venues.

Data from CoinGlass shows that longs accounted for $376 million of the total, nearly three times the $138 million in short liquidations—an indication of how heavily traders were positioned for continued upside before the move reversed.

More than 155,000 traders were liquidated, with the single largest order—a $23.18 million BTC position—wiped out on perpetuals venue Hyperliquid.

Major trading platforms bore most of the impact:

• A leading derivatives exchange saw $144.6 million in liquidations, 76% of them longs
• Hyperliquid recorded $115.8 million in liquidations, with an even steeper 83% long share
• Another major exchange followed at $109.3 million, with 72% long-side liquidations

The liquidation cascade highlights the risks of excessive leverage during volatile market conditions, as leveraged positions on both sides of the market faced forced unwinding.