First squeezed into the market, then shaken out and left holding the bag—$BTC played out a full double-liquidation scenario today. According to CoinGlass data, around $350 million in positions were liquidated across the market over the past 24 hours, with short positions accounting for 53.6%. BTC alone saw about $129 million liquidated, 60% of it from shorts. CoinTelegraph data shows BTC spiked to $84,777 intraday before retreating to around $82,485. The breakout wasn’t driven purely by spot buying: data cited by Coinjuice shows that nearly $110 million in shorts were liquidated across the market during the four hours BTC surged above $84,000, while Binance’s open interest rose from $7.79 billion to $8.14 billion over the same period. I’m inclined to think this rally’s peak was driven more by a short squeeze than by fresh capital flowing in. The more a rally relies on forced liquidations, the more decisively selling pressure can emerge on the way down. Next, watch whether long positions start piling up again around $83,400.
#Bitcoin #衍生品 #Liquidations
(Not investment advice)