CoinGlass-tracked crypto derivatives liquidations ran roughly $1.08–1.1 billion over 24 hours on Thursday, with several outlets putting long liquidations near $950M and ~210k accounts hit. The Block cited about $880M wiped in a four-hour burst as prices broke. Open interest in bitcoin futures also contracted into the mid-$20Bs during the session, consistent with forced de-risking rather than a quiet grind.
Why it mattersWhen the tape moves this fast, CT usually narrates the why after the liquidation engine already did the work.
News summary written by fadeCT from the linked reporting. Not financial advice. The fadeCT take, when present, is opinion.