Bitcoin Shorts Suffer $9.58 Million in One Hour Liquidation

On October 2nd, Bitcoin short positions worth $9.58 million were liquidated in just one hour as the cryptocurrency rose by 0.46%.

The total Bitcoin liquidations for that hour reached $10.05 million, with long positions accounting for a relatively small portion of $470,000 and short positions making up the bulk at $9.58 million.

At the start of the period, Bitcoin traded at $86,495, while by the end it had risen to $86,894. The liquidation figures are based on publicly available data from Binance, Bybit, and OKX covering those three exchanges through 8:36 a.m. ET.

Bitcoin is still the largest cryptocurrency by market capitalization, but these numbers highlight the volatility of short positions in Bitcoin trading.