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$BTC More than $1 billion has been liquidated across the crypto market in the past 24 hours as Bitcoin and Ethereum sold off sharply.
Bitcoin briefly fell to its lowest level since early June as leveraged positions were wiped out across the market.
What's notable is that this wasn't just a crypto move.
The sell-off came as risk assets broadly weakened before strong earnings from Micron helped stabilise sentiment around the AI trade.
For weeks, crypto has been moving alongside the same risk-on narrative driving AI stocks higher.
The last 24 hours were a reminder that when liquidity disappears, both can get hit fast.