Over $400M in Crypto Longs Liquidated in One Hour

More than $400 million in leveraged crypto long positions were liquidated within a single hour during the latest market selloff.
Long liquidations reached roughly $400.83 million versus just $11.79 million in shorts, bringing total liquidations to $412.62 million. Long positions accounted for more than 97% of the wipeout.
The extreme imbalance shows how heavily positioned traders were for upside before the sudden decline triggered widespread forced selling.