A staggering $195 million in cryptocurrency futures positions were liquidated across major exchanges in just the last hour, sending shockwaves through the market. This sudden surge in liquidations suggests heightened volatility and potential for further price swings. The total liquidations in the past 24 hours have now climbed to a concerning $654 million, indicating widespread leveraged positions being forcefully closed. Bitcoin and Ethereum futures contracts were the most affected, but significant liquidations also occurred in altcoins. Analysts attribute this recent surge to a combination of factors, including unexpected market news and increased trading activity during peak hours. Traders are advised to exercise caution and manage their risk effectively amidst this heightened market uncertainty. Monitoring open interest and funding rates can provide insights into potential future liquidations. ```