Crypto liquidations: over a billion dollars in long positions wiped out in 24 hours

Crypto markets saw over $1.1 billion in bullish positions forcibly liquidated within 24 hours, alongside $430 million in outflows from Bitcoin ETFs. The dual hit of leveraged long liquidations and ETF redemptions signals a sharp pullback in risk appetite across digital assets. The scale of the deleveraging matters because it can amplify price declines and reset positioning across major tokens and chains. Traders will watch whether ETF flows stabilize and whether funding rates cool, which would indicate whether the washout has run its course.