$615 Million Crypto Long Liquidations Trigger Sharp Market Sell-Off, Bitcoin Dominance Rises

Crypto markets slid sharply on Thursday as a rapid ‘long squeeze' erased more than $615.58 million in leveraged positions within four hours, underscoring how quickly excessive bullish positioning can unwind when momentum breaks. Data from major derivatives venues showed that $538.19 million of the forced liquidations were tied to long positions—about 87.43% of the total—signaling that upside bets were crowded and were flushed out in a concentrated wave.