Crude oil rebounded from the intraday low of $90.8 back to around $93. Shorts were blown up in the past hour: stock and commodity contract liquidations totaled $490,000, with 94% being short positions.
Almost all commodity positions are bleeding shorts. Of the $386,000 liquidation amount, shorts account for 99.6%.
Crude oil is the main focus. Bybit opened two short positions, each exceeding $50,000; their liquidation prices are both right around 93.4. Hyperliquid liquidated $19,000, and Binance liquidated $15,000. The largest four short positions in crude oil total $136,000.
Gold is also getting squeezed short. The largest three positions total $80,000; liquidation prices range from 4413 to 4433, neatly lining up with the peak level in this surge.
Even the USO crude oil fund in the US stock market didn’t escape either—within an hour, it was cleared of 44,000 short positions.
Oil prices rose 1.1% in a day—seemingly no big deal. But the leveraged shorts were the first to throw in the towel. How far do you think this energy rally can still go?
Check in real time: https://www.coinboss.com/tradfi-liquidations