In a sudden and dramatic event, Bitcoin’s price experienced a significant decline in just one hour, resulting in a massive $32.31 million total liquidation across all positions. A whopping 3,100% of liquidations favored long positions, with $31.03 million wiped out from those bets versus only $1.29 million from shorts, according to CoinGlass. This drastic imbalance signifies a strong bullish market sentiment. Over the past 24 hours, overall asset liquidation totaled $483.01 million across various cryptocurrencies, with long positions accounting for nearly half of that amount ($255.37 million), and short positions contributing $227.64 million. While the extreme imbalance was less pronounced throughout the day, it still reflects a market leaning towards a bullish perspective. Bitcoin led liquidations followed by Ethereum ($19.36 million). Altcoins including XRP, Solana (SOL), and Dogecoin (DOGE) saw $3.35 million, $2.71 million, and $1.73 million in liquidated positions respectively. Despite the sharp price drop, Bitcoin briefly surpassed $104,800 before retracing to below $103,000. This pullback triggered stop-losses and margin calls across leveraged long positions, with most of the impact concentrated in this overexposed market. The one-hour liquidation window stood out: a whopping $78.45 million in long liquidations versus just $7.23 million in shorts. This 10-to-1 ratio in such a short timeframe suggests cascading forced selling rather than widespread panic and spot selling, according to analysts. The largest individual liquidation was a $7.5 million BTC/USD position on Bybit. Overall, the market’s sharp decline highlights a shift in leverage conditions rather than structural failures.