$162.95 Million in Crypto Liquidations as Short Squeeze Hits Bitcoin, Ethereum

Crypto markets saw a sharp leverage unwind as more than $162.95 million in positions were liquidated over 24 hours, driven mainly by short squeezes in Bitcoin and Ethereum. Bitcoin rose 0.83% to about $64,539 and Ethereum gained 1.79% to around $1,900, which was enough to force outsized liquidations in bearish leveraged bets. Bitcoin led all instruments with $55.06 million in liquidations, about 90% from shorts, while Ethereum followed with $50.18 million, roughly 80% short-biased. The article highlights that liquidation pressure extended beyond the two largest cryptocurrencies, with mixed flows across altcoins and even some non-crypto instruments in CoinGlass’ tracked set. The key market takeaway is that relatively small spot gains can still trigger large forced closures when positioning is crowded, increasing near-term volatility and reducing immediate sell pressure after the squeeze.