After a volatile week, thousands of traders saw their positions liquidated in multiple markets.

Data from Coinglass’s futures and cryptocurrency trading platform Coinglass shows that more than $400,000,000 worth of positions were sold by traders in the crypto market on May 5. The most notable thing was that bettors on the market moving higher were left with a loss of $340.30million as long positions were lost. The reverse was also true for bettors on the market’s continued fall. Short positions of $67.3 million were also liquidated that day.

The liquidations impacted traders the most from Thursday to Friday. Over a 24 hour period, more than 2000 BTC worth $72.7 million were destroyed. Following closely was $39.53 million in liquidations. The liquidations continued on Saturday. At press time, more than 34,000 traders were liquidated.

Notable is the fact that two of the altcoins which had just experienced large rallies did not escape the destruction. Fitness app STEPN (GMT) and Yuga Labs’ ApeCoin (APE) saw liquidations of $7.36 million and $5.27 million, respectively.

Weighing in on the crash, Santiment noted that this week’s correction is one of the largest capitulation events for Bitcoin in the past year.

Bitcoin’s third-largest capitulation in more than a year is in its ratio of losses to on-chain transactions. BTC had been this negative in this measure since February 16, 22nd. Prices jumped +20% over the next nine days.