$BTC BITCOIN SHORT SQUEEZE WIPES OUT $132M IN 24 HOURS
Bitcoin’s latest push higher has triggered a wave of forced liquidations across the derivatives market, with short positions taking the bulk of the damage.
Over the past 24 hours, more than $132 million in Bitcoin shorts have been liquidated, accounting for roughly 75% of total liquidations. Long positions, by comparison, saw just over $42 million wiped out, highlighting the imbalance in market positioning.
The move comes as BTC climbs to levels not seen since early February, catching bearish traders offside and fueling a classic short squeeze. As prices moved higher, leveraged short positions were forced to close, accelerating upward momentum.
Such liquidation events often act as a feedback loop in crypto markets, where rising prices trigger liquidations, which in turn push prices even higher.
The data signals that bearish conviction had built up significantly in recent sessions-only to be unwound rapidly as Bitcoin regained strength.