Over $422 million in crypto positions were wiped out in just 24 hours as sharp price swings hit both sides of the market. Earlier in the session, bullish traders took the biggest hit, with $278 million in long liquidations as prices dropped before finding support. But the tide quickly turned as both Bitcoin and Ethereum rebounded, triggering a wave of losses for short sellers.

The rapid shift highlights how fragile leveraged positions have become. In just a few hours, bearish traders who expected further downside were caught off guard, showing how quickly sentiment can flip in today’s crypto environment. With macro uncertainty still looming, sudden moves like this are becoming the norm rather than the exception.