A significant shake-up in the cryptocurrency market occurred as over $171 million worth of short positions were liquidated within an hour on Binance. This major event follows a larger daily liquidation wave totaling $331 million and highlights the inherent volatility of crypto exchanges. The sudden shift is attributed to market fluctuations, causing Bitcoin, Ethereum, and Dogecoin prices to experience significant swings. Binance, where the largest single liquidation occurred in the amount of $8.534 million related to BTCUSDT, saw a notable impact on its trading activity. 171 million dollars represents a sizable chunk of short positions, which were liquidated quickly, reflecting the volatile nature of cryptocurrency markets.