CryptoETHBitcoin and Ethereum Experience Major Short Liquidations

Bitcoin and Ethereum Experience Major Short Liquidations

Bitcoin and Ethereum are undergoing another wave of short liquidations, contributing to a bullish trend in the market.

Data from Coinglass reveals that total crypto liquidations have surged to $138.23 million, with over $95 million coming from short positions, indicating a 71% dominance over long positions. Increased short liquidations typically generate buying pressure, benefiting the assets.

Ethereum leads with $27.69 million in liquidations—$23.84 million from shorts and $3.85 million from longs. ETH has gained 3.1% in the past 24 hours, trading at $2,730, with daily trading volume increasing by 117% to $17.4 billion as investor interest grows. The largest single liquidation order on Binance, worth $6.64 million in the ETH/USDT pair, highlights this activity.

Bitcoin follows with $25 million in liquidations—$21 million from shorts and $4 million from longs. This activity propelled BTC to a four-month high of $69,460 earlier today. Despite a recent correction, Bitcoin is up 0.45% over the past day, trading at $68,700, with a 74% surge in daily trading volume to $24 billion.

The global crypto market cap has reached a three-month high of $2.49 trillion, as many leading altcoins also see bullish gains, according to CoinGecko. However, if long positions begin to liquidate, it could create substantial selling pressure as traders aim to limit losses.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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