Nearly $600 Million in Crypto Longs Liquidated as Bitcoin and Ethereum Fall to August Lows

Crypto longs absorbed roughly $599 million in liquidations over the past 24 hours as Bitcoin and Ethereum dropped to their lowest levels in nearly three months, with long positions accounting for 88% of $680.81 million in total liquidations tracked by Coinglass. The cascade underscores how crowded bullish positioning has become across major tokens, leaving traders exposed to sharp downside moves. Attention now shifts to Friday's US producer price data, which could determine whether the selloff extends or stabilizes.