#24h加密合约清算破4亿美元 The "$400 million" liquidation data mentioned in this news has been updated with new data. As of May 29, 2026, the actual liquidation amount in the past 24 hours has approached or exceeded $900 million, a larger scale.

📊 Latest Liquidation Panorama

· Total liquidation amount: approximately $927 million (more than double the $400 million).
· Number of liquidated traders: over 173k people experienced a bloodbath.
· Long vs. short comparison: longs are the hardest hit, accounting for up to 91.7% (about $851 million).
· Main cryptocurrencies: Bitcoin about $353 million, Ethereum about $241 million.
· Largest single liquidation: valued at $15.34 million (occurred on Hyperliquid - BTC-USD).

💥 The "culprit" behind the sharp plunge

This collapse was not caused by a single reason but by the superposition of three "deadly forces":

· Macro "black swan": escalation of US-Iran tensions (US military airstrikes on Iran), funds rapidly withdrew from risk assets.
· News "counterattack": Trump released regulatory positive news, but the market responded with "positive news being sold off," with major players offloading at high points.
· Institutional withdrawal: continuous massive net outflows from spot ETFs (weekly outflows exceeding $1.3 billion), large investors leading the retreat.

🩸 Cruel Lesson: Why "longs"?

Data shows that over 80%-90% of liquidations are from bullish (long) positions.
This is because, before this sharp decline, the market was overly optimistic. Many retail traders used high leverage (such as 20x or even 25x) to go long, and habitually "bought more on dips" in an attempt to catch the bottom. When Bitcoin repeatedly broke below the key support levels of $74,000 and $73,000, these positions were instantly wiped out, triggering a chain of forced liquidations (margin calls), further accelerating the decline.

This "$900 million wipeout" once again proves the huge risks of high leverage in extreme market conditions.