Crypto Liquidations Hit $285M in 24 Hours, Longs and Shorts Both Wiped

The near-even split between long and short liquidations is the tell: this was a violent two-way shakeout, not a directional trend move. When both sides get flushed in the same window, it usually signals a liquidity vacuum or a sharp reversal that caught momentum traders offside, rather than genuine conviction in either direction. That matters most for leveraged traders on major venues, where the largest single hit landed. Whether this kind of two-sided volatility persists, or resolves into a clearer trend, is the open question.