Bitcoin and Ethereum sold off sharply over the last 24 hours, with BTC falling 2.35% to $60,303 and ETH dropping 4.98% to $1,569. The move hit the entire large-cap complex, signaling broad risk-off sentiment across majors. Derivatives markets bore the brunt of the pressure. Bitcoin liquidations hit $439.23M in 24 hours, with $347.70M from longs. Ethereum liquidations totaled $221.72M, with $185.02M from longs. Open interest fell sharply: BTC OI dropped to $46.58B (down 17.04% over 30 days), while ETH OI fell to $22.27B (down 29.31%). This deleveraging pattern shows traders being forced out, not adding fresh risk.