The crypto market just witnessed a massive liquidation event. Nearly $930 million worth of positions got wiped out, leaving over 260,000 traders on the wrong side of their bets in just one day. That's close to a billion dollars vanishing into thin air as leveraged positions collapsed across the board. When you see numbers like these, it's a stark reminder of how volatile this space can get—and how quickly things can turn south for overleveraged traders.