Liquidation heatmap:

• $BTC

BTC

81,936.16

+0.72%

→ $190.17M

• $ETH

ETH

2,338.77

-0.84%

→ $100.76M

• $ZEC

ZEC

563.91

-4.52%

→ $35.06M

This isn’t random volatility, it’s leverage being reset across majors and high-beta names simultaneously.