• CoinGlass data show that over $730 million in leveraged positions were wiped out across crypto markets in the past 24 hours.
• These liquidation positions were 73% long, and the largest single liquidation was an $11 million BTCUSD order on Bybit.
• Traders should be cautious as the upcoming US CPI could bring more volatility to the crypto markets.

The cryptocurrency market has experienced a sharp downturn in the past 24 hours, with total liquidations surpassing $730 million, according to Coinglass data, as Bitcoin dipped below the $102,000 mark. Of these, 73% were longs, highlighting the bullish overexposure among traders.

With market sentiment on edge, all eyes are on Tuesday’s upcoming US Consumer Price Index (CPI) data…