Crypto Liquidations Hit $225M in One Hour, Led by $59.87M in ETH

The lopsided long-to-short liquidation split signals a crowded, one-sided leverage book being flushed rather than a balanced two-way repricing. That distinction matters for how quickly the move stabilizes: forced long unwinds can cascade while the fuel lasts, but they also clear excess positioning. ETH and BTC absorbing the bulk of it confirms the pain is concentrated in the majors, not idiosyncratic altcoin names. Whether the flush exhausts itself or draws in further deleveraging is the open question.