One hour. $107 million in long positions gone. Just like that.

Here's what actually went down: major market makers are repositioning before the next significant move. The tariff headlines between the US and EU? Perfect cover. While retail traders fixate on headlines, sophisticated players hunt stop-losses and flush out overleveraged positions. It's textbook market structure.

Over-leveraged traders get punished hardest when volatility spikes. No exceptions. The market doesn't care about your conviction—it tests your risk management.

This is how price discovery works. Pain separates the serious traders from the speculators.

So here's the real question: Who actually survived this move? Who managed their positions properly? Because that tells you everything about who'll be standing when the next leg happens.