- $226M in Bitcoin and Ethereum shorts were liquidated in 24 hours as both tokens surged.
- Ethereum accounted for $137.9M of the total, fueling extra bullish momentum.
- Across all cryptocurrencies, more than $330M in short positions were wiped out.
The crypto market once again showed its wild side, forcing bearish traders into a painful corner. In just 24 hours, Bitcoin and Ethereum short positions worth around $226 million were wiped out as both tokens picked up fresh bullish momentum. The sudden liquidation wave reflects just how quickly sentiment can flip, leaving those betting against the rally scrambling to cover losses.
Ethereum Bears Take the Biggest Hit
Ethereum traders felt the biggest sting this time. Shorts worth roughly $137.9 million were liquidated as ETH pushed higher, adding fuel to the market’s upward drive. Bitcoin wasn’t far behind, helping drive the majority of the action that shook out leveraged bears. For many, the move underscored how risky shorting top cryptos can be when momentum starts running hot.
Over $330M in Shorts Wiped Out Across Crypto
Looking at the wider market, over $330 million in shorts across all digital assets vanished in a single day. This points to a broader reset where leverage-heavy traders lost footing as spot prices climbed. It’s a reminder that volatility cuts both ways—opportunities for some, but steep lessons for others.
What’s Next for Bitcoin and Ethereum?
Whether this marks the start of a stronger leg up or just another shakeout remains to be seen. But one thing’s clear: in a market that thrives on momentum and quick swings, staying overleveraged against Bitcoin and Ethereum can be a dangerous game.
