Crypto liquidations surged past $800 million today amid a sharp decline in total market capitalization, as leveraged trading positions across major exchanges were forcibly closed. Total crypto market losses have now approached 30% since October 6.

Recent price drops triggered widespread liquidations, with Bitcoin and other digital assets seeing positions rapidly closed as market volatility breached key margin thresholds.

The surge highlights the risks of leveraged trading in crypto, where sudden swings can force automatic closures once collateral levels fall below maintenance requirements.