Altcoins such as Ether and Dogecoin experienced significant losses during a recent market slump, with ETH dropping 7.5% and DOGE down almost 11%. Data from Coinalyze revealed over $580 million in bullish bets were liquidated, with the largest single liquidation order being an $18.4 million ETH trade on Binance. Additionally, open interest decreased by 12%, indicating a outflow of money from the market. Liquidations occur when exchanges forcibly close leveraged positions due to a trader's inability to meet margin requirements. This article highlights the volatility and risk involved in cryptocurrency trading, as well as the potential for substantial financial losses during market downturns.