Short Squeeze Intensifies: Crypto Shorts Hit Record $18 Million in Liquidations

Crypto derivatives traders faced a fresh wave of forced liquidations over the past day, with shorts bearing the brunt of deleveraging as Bitcoin and Ethereum held a mild upward bias.

The data points to 'short squeeze' dynamics rather than a broad risk-off shock, while pockets of leverage appeared to build in smaller, more thematic tokens.

Total liquidations across 16 major assets tracked by ticker reached about $26.3 million over the past 24 hours, according to CoinGlass.

Long liquidations accounted for roughly $8.23 million, while short liquidations totaled about $18.07 million, meaning shorts represented approximately 68.7% of the wipeout.