COINOTAG News, citing The Block and Coinglass, reports that the crypto market recorded roughly $1.7 billion in forced liquidations over the past 24 hours, with long positions comprising approximately $1.616 billion. In the most recent four-hour window, about $1.09 billion was liquidated, including near $1.06 billion of long positions. A liquidation event occurs when leverage-driven exposures fall below the maintenance margin and are forcibly closed, a process that can amplify realized losses through stop-loss cascades; publicly available liquidation metrics—derived from exchange reports and orderbook snapshots—frequently understate total deleveraging. Analysts say that although market participants focused on the September Federal Reserve interest-rate decision as a catalyst, several indicators imply the prior bull cycle has materially waned.