$81 Million Liquidation Wave Hits Crypto as Shorts Get Squeezed

Crypto markets experienced a modestly positive tone over the past 24 hours, but derivatives flows told a sharper story. Leveraged traders were forced out of positions at scale, with liquidations skewing heavily toward shorts.

Data tracked by CoinGlass showed total liquidations of roughly $81 million over the past day. Bitcoin rose 1.6% to about $116,900, while Ethereum edged 0.1% lower to around $3,830.

Among large-cap tokens, XRP climbed 2.0%, Solana added 1.3%, Sui gained 3.2%, and Pepe jumped 4.5%. The most recent four-hour window saw aggregate exchange liquidations reach approximately $32 million, with shorts accounting for $21.24 million or 66.39% of the total.