Trump's visit to China is a positive development, and in the past 4 hours, the entire network has experienced liquidations of $165 million, mainly long positions.

On May 13, according to Coinglass data, in the past 4 hours, the entire network liquidated $165 million, including $157 million in long positions and $7.74 million in short positions.
Over the past year, there have been multiple instances of long position liquidations exceeding $100 million within four hours, such as $440 million on June 13, 2025, and $494 million on June 22, 2025. These events typically indicate extreme short-term leverage sentiment and rapid clearing. The current liquidation scale of $165 million is comparable to the $131 million on May 15, 2025, and is not an isolated case. Notably, this time, long position liquidations account for as much as 95%, while short liquidations are only $7.74 million, showing that during market declines, short leverage was hardly touched. Unlike previous structures of dual-direction long and short clearing, this suggests that the recent decline may be driven more by spot selling or non-leverage factors rather than a liquidation cascade of long and short positions. $BTC