23-5-2025 – The digital currency landscape has endured a brutal four-hour period that left traders reeling, with market data painting a stark picture of widespread financial distress across cryptocurrency exchanges.
Coinglass analytics have unveiled the extent of the carnage, documenting forced position closures totalling $343 million during this compressed timeframe. The figures underscore the volatile nature of digital asset trading, where leveraged positions can rapidly spiral beyond traders’ control.
Particularly striking is the asymmetric nature of these liquidations, with bullish traders bearing the brunt of the market’s sudden shift. Long positions—bets that cryptocurrencies would rise in value—comprised an overwhelming $309 million of the total liquidations.
This disproportionate impact on optimistic traders suggests a coordinated sell-off or unexpected market catalyst that caught many investors off-guard. The remaining $34 million in liquidations stemmed from short positions, indicating that some bearish traders also found themselves on the wrong side of market movements.
