Short sellers stacked below $80,000 were just forced to buy back — $378 million vanished in one hour.
Facts: Bitcoin surged from a low of around $75,736 to a high of around $81,196 on Nov. 4, and is now holding around $80,374. CoinGlass data (reported by crypto.news, Nov. 4): $378.09 million worth of shorts were liquidated in one hour — 81% of the $466.33 million total for that hour. Over four hours, total liquidated shorts reached $386.16 million — meaning nearly 98% of that sweep happened in that one hour. FXStreet put the one-hour figure above $330 million, while CoinMarketCap Academy reported around $222 million in BTC shorts alone liquidated in one hour, with total BTC shorts at around $300 million over 24 hours. ETH also rose around 6.1% in 24 hours to around $2,427.
My take: this is forced buying, not spot conviction. Liquidations record positions forcibly closed, not new money coming in — and the counterweight is real: spot BTC ETFs have still recorded outflows for three consecutive sessions, totaling around $1.16 billion, and Glassnode says the Coinbase Premium remains below zero, a sign that U.S. buying is not yet dominant. So I see this break above $80,000 as fragile until spot buying confirms it.
What I’m watching: whether BTC holds above $80,000 through the daily close, whether ETF flows turn positive, and the next short cluster around $87,000 mapped by Glassnode — that level could fuel the next squeeze if the price gets there.
The next shorts are stacked at $87,000 — do you think BTC gets there first, or falls back below $80,000 before then?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #ShortSqueeze $BTC $ETH
Facts: Bitcoin surged from a low of around $75,736 to a high of around $81,196 on Nov. 4, and is now holding around $80,374. CoinGlass data (reported by crypto.news, Nov. 4): $378.09 million worth of shorts were liquidated in one hour — 81% of the $466.33 million total for that hour. Over four hours, total liquidated shorts reached $386.16 million — meaning nearly 98% of that sweep happened in that one hour. FXStreet put the one-hour figure above $330 million, while CoinMarketCap Academy reported around $222 million in BTC shorts alone liquidated in one hour, with total BTC shorts at around $300 million over 24 hours. ETH also rose around 6.1% in 24 hours to around $2,427.
My take: this is forced buying, not spot conviction. Liquidations record positions forcibly closed, not new money coming in — and the counterweight is real: spot BTC ETFs have still recorded outflows for three consecutive sessions, totaling around $1.16 billion, and Glassnode says the Coinbase Premium remains below zero, a sign that U.S. buying is not yet dominant. So I see this break above $80,000 as fragile until spot buying confirms it.
What I’m watching: whether BTC holds above $80,000 through the daily close, whether ETF flows turn positive, and the next short cluster around $87,000 mapped by Glassnode — that level could fuel the next squeeze if the price gets there.
The next shorts are stacked at $87,000 — do you think BTC gets there first, or falls back below $80,000 before then?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #ShortSqueeze $BTC $ETH