The liquidation machine just went quiet. 🤫 Thursday: $674M in leveraged bets force-closed. Friday: $644M. The last 24 hours? About $41M. Roughly 94% less, per ByKaranteli data. And it's split almost dead even: • Longs wiped: $21.1M • Shorts wiped: $20.2M • Liquidation cascades: zero The biggest single blowup wasn't even Bitcoin. It was a ~$757K position on PUMP. On $BTC, the top hit was a $230K short. Bitcoin itself barely moved: ~$77.6K, +0.3% on the day. But calm isn't the same as confident: • Options traders put $3.1M into puts vs $1.3M into calls over 24h • The biggest Hyperliquid accounts are only 42% long • Fear & Greed sits at 34 Leverage got flushed. The hedges stayed on. Weekend lull before the next move, or is the selling actually done?