mikelauofficial

#MarketPullback 💥 $300M Longs Wiped Out in 1 Hour 🚨The crypto market took a heavy hit on Sunday (Aug 24, 2025) when over $300M worth of long positions were liquidated within an hour. Bitcoin (BTC) plunged suddenly to around $110,600, its six-week low, while Ethereum (ETH) was pushed back just before reaching $5,000 and tumbled back around $4,500–$4,700. Almost 90% of the liquidations were longs, and more than 130,000 traders got cleaned out in a day. The largest single loss was over $12M on OKX. 📉💥 🔻The cause of this crash was a whale unloading almost 24,000 BTC (more than $300M) amidst weekend low liquidity. That massive sell-off initiated a long squeeze, or forced liquidations, whereby traders who were long and hoped for increasing prices were pushed out. Overall, the market witnessed $550M+ in 24-hour liquidations (approximately $238M worth of BTC and $216M worth of ETH), erasing gains from the previous Powell-led rally ⚠️💸.