Alan-Li

On August 21, according to Coinglass data, during the surge on “8.19,” short liquidations totaled $2.739 billion, and long liquidations totaled $248 million. The total liquidation amount for that single day ranked eighth in crypto history, while the short-liquidation amount for that day was the highest in history.
However, it is worth noting that among the top 10—or even top 30—liquidation events in crypto history before the period in question, “8.19” was the only short-squeeze liquidation event dominated by empty-order (short) liquidations; the rest were all long liquidations caused by crypto falling.
Background: The surge on “8.19” was driven by multiple factors acting in tandem. On one hand, the U.S. Treasury pushed for increased Treasury bond repurchases, which reignited market demand for Bitcoin. On the other hand, the Trump administration rolled out a series of favorable crypto policies in quick succession, including Trump meeting with several crypto industry executives at the White House on Wednesday and urging Congress to pass the (Digital Asset Market Clarity Act). In addition, the U.S. Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee held its first meeting on Thursday, chaired by CFTC Chairman Michael S. Selig and others; many founders and executives in the crypto space attended, including Coinbase CEO and Uniswap co-founder, among others.$BTC $ETH