Major crypto markets plunged, with Bitcoin, XRP, and Dogecoin taking heavy hits. The losses? Over $2.2 billion in forced liquidations wiped out on exchanges. As volatility surged, leveraged positions were hammered—both longs and shorts felt the pain. Such large-scale liquidation events often signal extreme panic or a dramatic market reversal. Heavily leveraged traders are facing tough lessons. The three giants took the biggest losses, but altcoins weren’t spared either. The market appears extremely brutal when leverage is rapidly unwound.