- Reported liquidations: $117.35 million in the first hour after the Fed decision.
- Shorts vs longs: Shorts accounted for approximately $90.16 million (about 77%) of that one‑hour total.
- Open interest: Open interest fell ~1.49%, indicating position removal rather than new leveraged entry.
- Liquidation-driven price moves often reflect forced position exits, not durable demand.
- A rise accompanied by falling open interest signals short covering rather than new long positions being added.
- Market watchers said confirming a durable recovery would require stabilizing or rebuilding open interest after the liquidation spike.
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