Bitcoin Whipsaws $3,000 Each Way on December 17, Triggering $400M in Crypto Liquidations

On December 17, Bitcoin posted a violent two-hour price swing of roughly $3,000 in both directions, first squeezing shorts and then longs as aggressive trading took hold. One 30‑minute surge of about $3,300 reportedly wiped out around $106M in short positions before a $3,400 drop over the next 45 minutes triggered roughly $52M in long liquidations. Across the broader crypto market, more than 120,000 positions were closed over 24 hours, with total liquidations nearing $400M and Bitcoin accounting for about $108M of that.