The cryptocurrency market experienced a significant shock yesterday as $343 million in liquidations impacted Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies. This large-scale liquidation event affected both long and short positions, highlighting the volatile nature of the market. Notably, exchange giants like OKX reported a single liquidation worth $15.56 million on the BTC-USDT-SWAP pair. While this massive hit underscores a significant financial impact, key industry leaders remain silent, leaving investors in the dark. 75% of crypto traders had leveraged positions and are facing substantial losses. Liquidity is being squeezed across DeFi platforms as governance tokens like Doge, XRP, and Solana suffered losses from long contracts, highlighting possible market repositioning.