Liquidation data from the past 24 hours shows strong pressure on bearish positions:
🔵 $BTC : 58.86 million USD liquidated | 71.93% are short positions
🔵 $ETH : 96.29 million USD liquidated | 82.51% are short positions
🔵 $SOL : 11.93 million USD liquidated | 84.69% are short positions
A recent price increase has forced a large number of short positions to close.
When short positions are liquidated, the resulting forced buying can add fuel to the upward momentum.
Now the key question:
Can spot demand sustain the upward momentum after being forced down by pricing? $BTC
BTCUSDT
Perp
83,335.7
-2.86%
ETHUSDT
Perp
2,639.93
-3.49%