January 31 marked the largest wave of liquidations in recent years. Data from Coinglass showed that the total amount of liquidated positions reached $2.5615 billion — the highest since the previous crisis. Of this amount, long positions took the biggest hit: their liquidations amounted to $2.4068 billion, while short positions lost $154.7 million. Analytical platform data indicates a significant market imbalance, with the majority of traders maintaining bullish bets. According to Odaily, this phenomenon is the largest single-day wipeout of positions since the 2011 crisis, pointing to critical volatility in the crypto market and massive risks for long-position holders.