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I just noticed on Farcaster and in traders' chats — over the past 24 hours, the crypto market is experiencing serious cleansing. $383 million has been liquidated in 24 hours, and interestingly — most of the blow was on the shorts. They lost $256 million, while the longs lost $127 million. It turns out the market is now clearly favoring the bulls.
Bitcoin positions were wiped out by $194 million, Ethereum — by $98.5 million. Nearly 87,500 accounts were liquidated in one day. On Hyperliquid, the largest single liquidation was on the BTC-USD pair — $13.33 million. That’s a huge amount! It’s clear someone miscalculated their position significantly.
Such a large-scale cleansing is a signal that the market is undergoing a serious move. In short, the shorts received a good lesson over the past few hours.