The 24-hour volatility proved particularly costly for bullish traders. According to Coinglass data, more than $324 million in leveraged bitcoin positions were liquidated, with wiped-out long bets alone topping $281 million. Ethereum (ETH) suffered the largest single-asset liquidations, with more than $507 million wiped out during the same period.

Overall, liquidations across the cryptocurrency market reached $1.2 billion, with long positions accounting for $1.04 billion.

Corporate Buying Fails to Offset Volatility

Bitcoin’s decline came even as corporate treasury giant Strategy reported purchasing 1,036 bitcoin over the past week, bringing its total holdings to 850,364 $BTC—valued above $63 billion. The effect of the purchases,…