Crypto derivatives hit as over $1B in long positions liquidated

Crypto markets experienced heavy selling as long positions worth more than $1.1 billion were liquidated across major exchanges, pushing Bitcoin and Ethereum down sharply over short windows. The cascade was driven mainly by long-leveraged positions being wiped out amid macro uncertainty and a firmer U.S. dollar. Traders said over-exposure in derivatives amplified price moves and heightened volatility in altcoins, with risk metrics and open interest watched closely for follow-through.