More than 150,000 leveraged cryptocurrency traders were forced out of their positions on 22 Aug., with contracts worth about $628.79 million unwound over 24 hours, data from analytics firm Coinglass show. The largest damage came during a four-hour stretch in which roughly $250 million of short positions were closed, including around $112 million linked to Ethereum. During the most volatile 60 minutes of that window, short liquidations alone reached about $200 million. The squeeze followed comments by Federal Reserve Chair Jerome Powell that investors interpreted as a potential shift in U.S. interest-rate policy, prompting a swift rebound in digital-asset prices and pushing Solana back above $190. Thursday’s rally capped a turbulent week for derivatives traders. On 18 Aug. a rapid sell-off sent Bitcoin briefly below $116,000 and Ethereum under $4,300, triggering as much as $581 million in long liquidations in a single day. Daily wipeouts exceeding $400 million through the week underscored the elevated leverage and fragility of the crypto market.