Bitcoin, Ether, and XRP Selloff Erases $1.5 Billion in Leveraged Crypto Positions

A sharp decline in Bitcoin, Ether, and XRP triggered a cascade of margin calls that wiped out roughly $1.5 billion in leveraged crypto bets. Nearly 84 % of the forced liquidations were driven by short‑selling positions, and Binance processed almost half of the total closures. The market has begun to rebound, with some short sellers taking profits as prices recover.