Crypto Leverage Whipeout: $600M+ In BTC & ETH Longs Liquidated

The cryptocurrency market faced a brutal shake-up as Bitcoin slipped below the $115,000 mark and Ethereum dropped under $4,500, erasing weeks of bullish momentum. What started as a period of cautious optimism quickly turned into a wave of panic selling, leaving bulls struggling to regain control. The sharp correction has pushed the market into a new, uncertain phase where confidence is being tested, and short-term volatility is dominating sentiment. Related Reading: Coinbase Reserves Hit $112B: Highest Level Since 2021 Market Peak Top analyst Maartunn highlighted one of the key drivers behind the downturn: an overleveraged derivatives market source: https://www.newsbtc.com/crypto/crypto-leverage-whipeout-600m-in-btc-eth-longs-liquidated/