Bitcoin Short Squeeze: $628 Million Liquidated in 24 Hours
<p class="text-left mb-4 ">Bitcoin recovered rapidly from last week’s lows, leaving traders who held bearish positions with a heavy bill. Over the past 24 hours, total liquidations in the crypto market reached $628 million, with short sellers taking the biggest hit.</p><p class="text-left mb-4 ">According to CoinGlass data, 24-hour liquidations climbed to $628,228,992. Of this amount, $467,178,624 came from short positions, while $161,050,368 came from long positions. In other words, roughly $3 out of every $4 liquidated in the market came from traders betting that prices would fall rather than rise.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Short pressure was clear across all time frames</h2><p class="text-left mb-4 ">The short-heavy <a href="https://jrkripto.com/tr/liquidation-data" target="_blank" rel="noreferrer" class="text-primary underline">liquidation </a>trend was not limited to the 24-hour window. In the past 12 hours, total liquidations reached $465,558,784; $372,190,304 of this came from short positions. In this 12-hour period, short dominance rose to 79.94%, showing that the pressure in the market was heavily one-sided.</p><p class="text-left mb-4 ">
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</p><p class="text-left mb-4 ">The picture was similar across shorter time frames. In the past 4 hours, $41,182,392 in positions were liquidated; $8,550,451 came from long positions, while $32,631,944 came from shorts. In the past 1 hour, liquidations totaled $4,292,815: $872,547 on the long side and $3,420,268 on the short side.</p><p class="text-left mb-4 ">When viewed through the 12-hour liquidation filter, total liquidations stood at $463,325,632. Of this, $91,495,688 came from long positions and $371,829,920 from shorts. Short dominance reached 80.25% in this window.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What happened?</h2><p class="text-left mb-4 ">Bitcoin fell by roughly 14% last week and briefly tested levels below $60,000. Several factors weighed on the market at the same time: Strategy selling Bitcoin for the first time since 2022, a sharp correction in AI stocks, and record outflows from spot Bitcoin ETFs.</p><p class="text-left mb-4 ">Many traders assumed the decline would continue and opened short positions near the bottom. They were wrong. Bitcoin climbed as high as $63,800 over the weekend; this sudden reversal triggered automatic liquidations among traders carrying leveraged short positions. A single Bitcoin futures position on OKX, worth $12.3 million, became the largest individual liquidation of this process.</p><p class="text-left mb-4 ">Total liquidations approached $655 million, affecting more than 104,000 traders. Bitcoin positions led with $315 million in liquidations, followed by ETH positions at $201 million.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Recovery loses momentum</h2><p class="text-left mb-4 ">After rising to $63,700 on Monday morning, Bitcoin pulled back again. Renewed tensions between Iran and Israel pushed oil prices up by more than 3% and rattled Asian stock markets; South Korea’s KOSPI index fell by nearly 7% in a single day. Against this backdrop, Bitcoin slipped to around $62,900. This is still well above last week’s lowest point, but the market does not yet appear to be standing on firm ground.</p><p class="text-left mb-4 ">In the coming days, the release of U.S. inflation data and the possibility of several major IPOs, including SpaceX, remain among the variables that could keep price action volatile.</p>
