According to the source, approximately $185 million in crypto positions were liquidated in the past hour, indicating acute leverage stress across the market; the source also warns traders to watch leverage and funding. For trading, prioritize monitoring BTC and ETH perpetuals’ funding rates and open interest for signs of further deleveraging, tighten stops, and reduce position sizing during funding spikes and OI drawdowns to limit slippage risk; this guidance follows the source’s alert. Source: the provided alert.