Large short squeeze wipes out nearly $1.8B in crypto short positions
📊 CoinGlass data shows total liquidations over the past 24 hours reached roughly $1.95B, with shorts accounting for about $1.77B, or more than 90% of the total. $BTC contributed around $1.15B and $ETH more than $525M, making them the two most heavily affected assets.
🚀 The liquidation wave coincided with a strong breakout in BTC from the $64.6K–$64.8K area to nearly $70K, while ETH advanced from around $1.91K to above $2.08K. The scale of the move suggests short positioning had become heavily crowded before being forced to unwind as prices accelerated higher.
⚖️ Liquidations in the latest hour have fallen to around $28M, indicating that the squeeze is losing intensity. The significant leverage reset may support near-term momentum, although consolidation or a mild pullback remains possible as forced buying fades.
#Crypto $BNB
📊 CoinGlass data shows total liquidations over the past 24 hours reached roughly $1.95B, with shorts accounting for about $1.77B, or more than 90% of the total. $BTC contributed around $1.15B and $ETH more than $525M, making them the two most heavily affected assets.
🚀 The liquidation wave coincided with a strong breakout in BTC from the $64.6K–$64.8K area to nearly $70K, while ETH advanced from around $1.91K to above $2.08K. The scale of the move suggests short positioning had become heavily crowded before being forced to unwind as prices accelerated higher.
⚖️ Liquidations in the latest hour have fallen to around $28M, indicating that the squeeze is losing intensity. The significant leverage reset may support near-term momentum, although consolidation or a mild pullback remains possible as forced buying fades.
#Crypto $BNB