Bitcoin and Ethereum Short Squeeze Wipes Out $82M in Crypto Futures

The crypto derivatives market experienced significant volatility over the past 24 hours, with total liquidations across major perpetual futures reaching approximately $82 million. Bitcoin and Ethereum accounted for the bulk of this activity, with a notable concentration of short positions being forced out.

Data from leading tracking platforms shows that $43.94 million in liquidations were attributed to Bitcoin, with an overwhelming 74.33% consisting of short positions. This suggests that traders who had bet on a price decline were caught off guard by a sudden upward move.

Ethereum followed closely, with $31.64 million liquidated and an even higher short ratio at 82.39%. Solana saw comparatively modest activity, with $6.83 million in liquidations, though shorts still represented a majority at 58.1%.