#数字资产市场观察 Early morning outbreak: $132 million liquidated in one hour, long positions almost completely wiped out.

What has happened in the crypto market in the past hour? According to AiCoin monitoring data, the total liquidation size reached 132 million USD. The more brutal detail is that long positions were liquidated for 124 million, while short positions were only liquidated for 8.23 million.

Calculating the numbers reveals how outrageous it is: over 94% of liquidations are concentrated in long positions. This sharp decline is not just a simple price correction; it has directly overturned the tables of a large number of leveraged players.

Three triggers ignited this massacre:
• The liquidity during the night session is already drying up, and any slight movement in price can easily lead to a loss of control.
• Long positions are overly concentrated, and a chain reaction of "stop-loss cascading" occurs after a decline triggers the stop-loss.
• Panic sentiment spreads like a virus, with sell-offs and liquidations accelerating each other, causing volatility to be multiplied.

Looking back at historical patterns, a single hour of liquidation exceeding 100 million is often not the end of the market, but rather a comma in emotional fluctuations. The knife of leverage has drawn blood again today.

Have you ever weathered a storm in a similar market situation? Will the subsequent trend continue to drop or will it make a V-shaped reversal? Share your judgment or discuss your risk management insights.