• Cryptocurrency derivatives markets recorded US$967 million in liquidations over 24 hours, with long positions accounting for US$849 million.
• Ethereum (CRYPTO:ETH) led losses with US$309 million in liquidations, followed by Bitcoin (CRYPTO:BTC) at US$246 million.
• Market analysts said the deleveraging event could reduce the risk of further forced selling if leverage remains subdued.

Cryptocurrency derivatives markets recorded US$967 million in liquidations during the past 24 hours, as a sharp market decline triggered widespread forced closures of leveraged trading positions.

Long traders absorbed most of the losses, accounting for approximately US$849 million, or 88% of all liquidations, highlighting the extent of bullish positioning before…