The crypto market just suffered its biggest flash crash since October 2025, wiping out $108 billion in just six minutes. The total market value fell from $2.68 trillion to $2.55 trillion as selling pressure increased. More than $1.71 billion in crypto positions were liquidated, hitting Bitcoin, Ethereum, and altcoins the hardest.

Crypto Rally Halt Turned Into $1.7B Liquidations

According to CoinGlass, 281,846 traders were liquidated in the past 24 hours, causing around $1.71 billion in total losses. Most of the damage came from long positions, with $574 million wiped out in just four hours as Bitcoin and other cryptocurrencies dropped sharply.

The liquidation wave also hit crypto derivatives markets hard. Open interest across…