$210M in Crypto Liquidations Expose Market Fragility
A significant $210 million in crypto perpetual futures positions were liquidated over the past 24 hours, signaling heightened volatility and risk in the crypto derivatives market. The liquidations were primarily driven by sharp price swings in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), with leveraged long positions bearing the brunt of the losses. These developments underscore the fragility of highly leveraged positions amid rapid price movements and growing leverage in the market.
Bitcoin experienced a dramatic price rebound of 2.6% following a speech by U.S. Federal Reserve Chairman Jerome Powell at Jackson Hole, which hinted at potential rate cuts. The bounce off a critical support level at $111,800…
