Crypto Futures See $86M Liquidated in 24 Hours as Bitcoin Shorts Dominate

BitcoinWorld Crypto Futures See $86M Liquidated in 24 Hours as Bitcoin Shorts Dominate The cryptocurrency perpetual futures market recorded approximately $86 million in total liquidations over the past 24 hours, with Bitcoin (BTC) accounting for the majority of the activity.

Data from major exchanges shows that $59.12 million in BTC positions were liquidated, with an overwhelming 93.53% of those being short positions.

Ethereum (ETH) followed with $12.05 million liquidated, 66.72% of which were shorts, while a lesser-known asset, SNDK, saw $15.31 million in liquidations, predominantly from long positions (74.56%). Market Context: What Drove the Liquidations?

The concentration of liquidations in short positions for both BTC and ETH suggests a sudden price increase or a short squeeze during the reporting period.