Bitcoin's Resilience Ignites Crypto Short Squeeze
Crypto markets experienced a dramatic short squeeze after the release of US inflation data on September 30, 2026. The core personal consumption expenditures (PCE) index showed that price pressures in the US economy remain persistent, with over half of the components rising faster than the target rate.
Despite this, Bitcoin and the largest altcoins triggered a powerful wave of buying activity that overwhelmed sellers. According to analytics platform CoinGlass, 73,709 traders were liquidated over 24 hours, resulting in $259.12 million in positions lost.
The imbalance was extreme, with short liquidations surging to $82.61 million while longs lost just $3.09 million. This 2,633% imbalance turned an ordinary price move into a classic macroeconomic short squeeze.