A long-skewed liquidation cascade flushed leverage across the major tokens overnight, with the move tracking a global bond selloff and the worst session for U.S. stocks since March.
source https://www.coindesk.com/markets/2026/05/16/crypto-longs-lose-usd500-million-as-bitcoin-slides-to-usd78-000-sol-and-xrp-down-5
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