The crypto market has witnessed a massive wave of liquidations, with $245 million worth of futures positions liquidated in the past hour, according to data from Coinglass. This brings the total liquidations in the past 24 hours to a staggering $604 million. The liquidations were triggered by a sharp drop in the price of Bitcoin (BTC), which fell by over 10% in the past hour. The drop in BTC has had a ripple effect on the rest of the crypto market, with many altcoins also experiencing significant losses. The liquidations are a sign of the high leverage that is being used in the crypto market. With prices falling, many traders are being forced to liquidate their positions to avoid losing their entire investment. The liquidations are likely to continue in the coming hours and days as the crypto market remains volatile. Traders should be aware of the risks involved in trading futures and should only trade with capital that they can afford to lose.

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