A post by @WatcherGuru on X.

Crypto derivatives liquidations reached $500 million within a single hour as Bitcoin dropped below $69,000, Ether fell under $1,950, XRP slid beneath $1.01 and Solana traded below $80. The synchronized pullback across major tokens points to a broad deleveraging event rather than an isolated move in one asset. The scale of the wipeout matters because forced closures can amplify price swings and thin liquidity across spot and futures venues. Traders will watch whether BTC holds the $69,000 area and whether funding rates reset enough to stabilize the market.