The crypto market on the evening of December 17 experienced a thrilling surge.

Around 10:45 PM, Bitcoin suddenly surged, breaking through the $90,000 mark in a short-term move, causing bullish traders to cheer. But the turn came quickly—selling pressure flooded in, and Bitcoin dropped sharply, even breaking below the $87,000 support level. Ethereum's performance was similar: first soaring to $3,000, then quickly retreating to around $2,850.

How much money was wiped out during this intense volatility? According to on-chain data, the total liquidation amount across the network in the past 4 hours reached $194 million. Long positions were liquidated for $72 million, and shorts suffered even more, with $121 million wiped out—both sides took a hit.

Watching this kind of movement, many traders chasing the rally or panic-selling can only sigh. Behind the thrill of short-term trading, the outcome is often like this: the dream of quick profits instantly turns into a liquidation notice. This also reminds us that in highly volatile markets, risk management should always come first.