Crypto derivatives markets experienced significant turbulence with $108 million in liquidations over a four-hour period, according to Coinglass data. Short positions were particularly affected, accounting for $100 million of the total liquidations, while long positions saw $7.65 million liquidated. Bitcoin and Ethereum were notably impacted, with BTC liquidations totaling approximately $35.93 million and ETH liquidations reaching around $40.53 million. This wave of liquidations highlights the volatility and risk inherent in crypto derivatives trading.