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When that $BTC order of over twenty million on Hyperliquid was liquidated, the project team was actually looking at another chart. In four hours, long positions liquidated 41 million, while short positions only 16 million. This difference is not a market issue but a position structure issue. When the longs get crowded to a certain extent, as soon as the price drops a bit, forced liquidations will trigger a chain reaction of further liquidations. #BTC87KCryptoCap3T