Powell's "hawkish first half, dovish second half," did the market get played hard? The entire network experienced $530 million in liquidations in 24 hours!

Just the past half day, the crypto market went through a "rollercoaster" baptism.
Powell's speech initially signaled a hawkish stance, causing immediate pressure in the market, and bears thought they had the upper hand; but then the tone suddenly changed in the second half, becoming vague and "watered down," with clearly dovish language. This back-and-forth directly wiped out both longs and shorts.
Let's look at this liquidation data (as of press time):
24-hour total liquidations: $530 million
· Longs liquidated: $350 million
· Shorts liquidated: $180 million
12-hour liquidations: $450 million
· Longs liquidated: $330 million
· Shorts liquidated: $110 million
4-hour liquidations: $310 million
· Longs liquidated: $270 million
· Shorts liquidated: $35 million
1-hour liquidations: $200 million
· Longs liquidated: $200 million (almost all longs)
· Shorts liquidated: $5.74 million
The most severe was the last hour—almost all longs were wiped out, indicating that the hawkish comments before the second half of the speech had already cleaned out the retail traders chasing longs.
Meanwhile, liquidations of shorts in the 4-hour and 12-hour windows are also accumulating, meaning that when Powell "eased up" in the second half, the short positions also couldn't escape unscathed.
To sum up:
Powell this time is neither hawk nor dove, but a "drama queen." The first half nurtures shorts, the second half nurtures longs, ultimately leading to liquidations. The direction doesn't matter; volatility is the real harvesting tool.
Next, keep a close eye on CPI data—don't play guessing games with the Federal Reserve. $ETH