A post by @WatcherGuru on X.

Roughly $200 million in crypto long positions were liquidated within a five-minute window, according to Watcher.Guru, marking a sharp flush of leveraged bullish exposure across the market. The figure reflects forced closures of traders betting on higher prices, a sign that a sudden downside move caught overleveraged longs offside. The event matters because rapid long liquidations can amplify spot selling and deepen intraday drawdowns as exchanges auto-close positions. Traders will watch whether funding rates reset lower and open interest stabilizes, or whether continued deleveraging extends the selloff.