The cryptocurrency market has experienced significant turbulence, with $930 million in liquidations occurring as Bitcoin and Ethereum prices dropped over 5% in the past week. Bitcoin fell to $73,400, briefly dipping below $73,000, a level not seen since early April. Ethereum also faced a sharp decline, dropping over 6% to around $1,990, its lowest since late March. Data from CoinGlass reveals that the derivatives market bore the brunt of this volatility, with $928.8 million in liquidations over the last 24 hours. Bullish positions were hit hardest, accounting for $869.3 million of the liquidations. Bitcoin and Ethereum were the primary contributors, with $365.1 million and $242 million in liquidations, respectively. Solana followed distantly with $26 million in contracts affected.