The cryptocurrency market experienced a surge in liquidations over the past 24 hours, with more than $983 million in positions wiped out, according to data from Coinglass and Cointelegraph. Of this total, $891.9 million came from long positions, reflecting the impact of sharp declines in major cryptocurrencies. Bitcoin dropped to $100,426, marking its lowest point in 29 days, while Ethereum fell over 7%. The sell-off led to the liquidation of approximately 227,636 traders. Altcoins also suffered double-digit losses, and the largest single liquidation was a $2.06 million BTC trade on Bybit. BTC had held above $100,000 for 29 days prior to the drop. Within a single hour, over $262 million in long positions were liquidated, with some sources reporting as much as $285 million lost in 60 minutes. Additional data show that $800 million or more was liquidated in the past 24 hours, with $597.20 million involving 156,120 traders, and $275.59 million involving 104,740 traders. Earlier, $194.25 million was liquidated from 77,801 traders, and $147.96 million in the previous 24 hours. In total, over $2 billion in liquidations have occurred over the past week, with $770 million in longs wiped out and both bullish and bearish traders affected. Analysts attribute the heightened market turbulence to macroeconomic uncertainties, including ongoing trade tensions and anticipation of U.S. economic data releases. Reports also noted that the fallout from a public dispute between Elon Musk and U.S. President Donald Trump contributed to the market decline.