In the last 24 hours, cryptocurrency perpetual futures markets experienced significant liquidations, particularly impacting Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Here's a breakdown of the liquidation volumes and ratios: Bitcoin (BTC) Liquidation Volume BTC saw a substantial $134.17 million liquidated. A significant 79.6% of these liquidations were short positions, indicating many traders betting against Bitcoin were caught out. Ethereum (ETH) Liquidation Volume Ethereum (ETH) followed a similar pattern, with $83.40 million in liquidations. The liquidation ratio mirrored Bitcoin's, with 79.74% of liquidated positions being short. Solana (SOL) Liquidation Volume Solana (SOL) experienced $21.99 million in liquidations. Notably, Solana's short liquidation ratio was even higher, at 86.43%, suggesting a strong upside surprise for SOL holders. These high short liquidation ratios across major cryptocurrencies suggest a possible short squeeze, where a rapid price increase forces short sellers to buy back their positions, further driving up the price. This can be triggered by positive news, increased buying pressure, or a combination of factors. ```