The cryptocurrency market experienced a significant shakeup recently, with over $216 million in futures positions liquidated across major exchanges in just one hour. This rapid deleveraging highlights the inherent volatility of the crypto market, particularly within leveraged trading. Zooming out, the last 24 hours saw a total of $413 million in futures positions liquidated. This suggests a broader market correction or period of increased price fluctuation that forced leveraged traders to close their positions, often at a loss. Common contributing factors to such liquidations include unexpected news events, large market orders triggering stop-loss orders, and periods of heightened uncertainty. While liquidations can be painful for individual traders, they can also contribute to market stability in the long run by removing excessive leverage. Traders should always exercise caution and manage risk appropriately when engaging in futures trading. ```