Bitcoin Slide Triggers $2.05B in Crypto Liquidations; Binance Nears $800M

The concentration of forced selling in long positions points to a market that had grown lopsided in its bullish positioning, and Binance carrying the largest single share suggests leverage was clustered on the most liquid venue rather than spread thinly across smaller exchanges. That matters because liquidation cascades on a dominant platform can transmit price pressure more broadly than the underlying move alone would imply. Whether the long-heavy tilt unwinds gradually or gives way to a deeper deleveraging is the open question worth watching.