A serious liquidity event occurred in the market within the last 24 hours: over 195,000 investor accounts were liquidated, and the total loss exceeded $669 million. The notable aspect is that a large portion of this loss originated from long positions—liquidations of only $584 million were from long positions alone, highlighting how vulnerable investors holding positions during the price decline are. An opening event of this scale raises questions about what other risks and imbalances might exist in the market.