$600 Million Wiped in 60 Minutes as Crypto Liquidations Cascade!

A brutal $600 million in crypto positions were forcibly liquidated in a single 60-minute window, marking one of the sharpest short-term deleveraging events of the year. The speed of the wipeout points to a cascade effect — margin calls triggering further forced selling, which in turn pushes prices lower and triggers the next wave of liquidations.

Events of this magnitude typically hit leveraged long positions hardest, with perpetual futures traders on major exchanges bearing the brunt. When $600 million exits the market involuntarily in under an hour, the signal is unambiguous: risk appetite has snapped, not merely retreated.

The immediate question for traders is whether spot buyers step in to absorb the overhang or whether the deleveraging continues into the next session. Historically, liquidation cascades of this size either mark a local bottom or precede a second leg down — the…