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Just looked at the charts - the market has shaken up nicely over the past 4 hours. Liquidations are skyrocketing, already over 55 million dollars. It seems there was a good shakeout of long positions, they took the main hit - about 52 million in losses. Shorts fared better, losing approximately 5.7 million.
Most of it hit Bitcoin - 17.6 million in liquidations. Ethereum also took a hit, with around 14.8 million liquidated. That’s the volatility over these 4 hours. It will be interesting to see what happens next - the market is clearly in a shakeout mode.