Bitcoin longs bear brunt of $1.49 billion in crypto liquidations over 24 hours

Over the past 24 hours, crypto traders lost $1.49 billion to forced liquidations, with bullish bets on Bitcoin and Ethereum accounting for the vast majority. Bitcoin longs alone represented $475.19 million of the total, while Ethereum longs contributed $330.59 million. Smaller tokens and assets like Solana, XRP, and silver contracts also saw significant liquidations. The sell-off was triggered by a broad price drop that pushed leveraged positions past margin limits, with Bitcoin down 4.67% and Ethereum down 5.40% in 24 hours.