đ„ $3.3 Billion Liquidated in 24 Hours â Short Sellers Got Absolutely Wiped Out
The crypto market just experienced a massive liquidation event.
Around $3.3 billion worth of leveraged positions were liquidated within 24 hours, with roughly 90% of the liquidations coming from short positions.
That makes this one of the most aggressive short squeezes the crypto market has ever seen.
The scale is even more remarkable when looking at the broader picture: This was reportedly the largest short-liquidation event in crypto history and the 7th-largest 24-hour liquidation event ever recorded.
The mechanism is brutally simple: BTC pumps â shorts get liquidated â forced buybacks push the price higher â even more shorts get wiped out.
After weeks of hesitation below the $70K area, Bitcoin's breakout caught an enormous amount of bearish leverage on the wrong side.
And now the market is paying the price.
As CZ famously likes to joke about exchange liquidity: âThereâs plenty of money on the exchanges. Just keep going up and take it.â đ
The big question now is whether this is merely a gigantic short squeeze, or the beginning of a much larger trend reversal.
Either way, the bears just got a very expensive reminder: Never underestimate what happens when too many people short the same market.
$BTC $ETH $HYPE
The crypto market just experienced a massive liquidation event.
Around $3.3 billion worth of leveraged positions were liquidated within 24 hours, with roughly 90% of the liquidations coming from short positions.
That makes this one of the most aggressive short squeezes the crypto market has ever seen.
The scale is even more remarkable when looking at the broader picture: This was reportedly the largest short-liquidation event in crypto history and the 7th-largest 24-hour liquidation event ever recorded.
The mechanism is brutally simple: BTC pumps â shorts get liquidated â forced buybacks push the price higher â even more shorts get wiped out.
After weeks of hesitation below the $70K area, Bitcoin's breakout caught an enormous amount of bearish leverage on the wrong side.
And now the market is paying the price.
As CZ famously likes to joke about exchange liquidity: âThereâs plenty of money on the exchanges. Just keep going up and take it.â đ
The big question now is whether this is merely a gigantic short squeeze, or the beginning of a much larger trend reversal.
Either way, the bears just got a very expensive reminder: Never underestimate what happens when too many people short the same market.
$BTC $ETH $HYPE