Crypto bulls just got wrecked: $563M in long liquidations — the worst single-day wipeout in over three months!

Leveraged bulls betting on a crypto rally suffered their worst day in more than three months on Friday, with $563 million in long futures positions forcibly liquidated across exchanges in a single 24-hour window. The last time the market saw a wipeout of this scale was February 6, when bitcoin crashed toward $60,000 and erased $1.84 billion in bullish bets, according to Coinglass data.

Ether bore the heaviest damage, accounting for $244 million of the liquidated longs, while bitcoin contributed $160 million. The two tokens together made up the bulk of the market-wide unwind. For context, short liquidations over the same period came in at just $65 million — a ratio that underscores how dangerously lopsided bullish leverage had become heading into the selloff.

The proximate trigger was macro: hotter-than-expected U.S. inflation data released last week pushed Treasury yields higher, and…