Last night, a serious wave of liquidations occurred in the market. When I looked at Coinglass data, I saw that more than 41 million positions were closed in the last hour. The interesting part is this: short positions made up the majority of this loss. Traders with over 33 million in short positions were the ones who triggered the liquidations.

When such 56 position collapses happen, there is usually a rapid movement in the market. I especially saw a trader losing more than 11 million in BTCUSDT – such single-position losses indicate significant changes in the market landscape.

Looking at the 24-hour data, the situation is even worse: over 152,000 people lost their positions, with total losses exceeding 600 million. Since these types of liquidations typically increase market volatility, we might experience similar events again soon.