Crypto markets sold off hard on June 24, wiping out more than $600 million in leveraged long positions within hours. Bitcoin and Ethereum absorbed the heaviest of the crypto liquidations.

The drop was broad rather than isolated. Nearly every major token turned red, and the forced selling concentrated on the largest exchanges. Binance led every venue.

Red Floods the Market

A live cryptocurrency heatmap captured the scale of the rout. Bitcoin (BTC) showed a 4.07% daily loss on the snapshot, while Ethereum (ETH) fell 4.91%.

Large caps followed in lockstep. XRP dropped 4.28%, Solana (SOL)…