A sudden wave of selling on Saturday wiped out nearly $52 million in crypto traders’ leveraged bets on chip-stock perpetual futures within 10 minutes, while U.S. markets were closed for the weekend. The forced liquidations, totaling $51.6 million according to CoinGlass data, occurred between 21:22 and 21:32 UTC, with approximately $38 million from long positions. SOXL, SanDisk, and SK Hynix contracts were among the hardest hit, with losses of $12.7 million and $10.8 million each, respectively. The selling reportedly began on Binance, quickly spreading to other crypto exchanges like Hyperliquid.