Bitcoin and Ethereum saw over $50 million in short liquidations in the past 24 hours as prices surged to multi-week highs. Bitcoin jumped from $64k to above $66k, while Ethereum rose above $3,500, leading to widespread liquidations.
Data from Coinglass shows Bitcoin had over $30 million in short liquidations and Ethereum over $21 million. Other cryptocurrencies like Solana, Worldcoin, and XRP also experienced significant short liquidations.
In total, the market recorded over $155 million in liquidations, with more than $94 million from shorts. Despite a recent sell-off due to Mt. Gox-related news, sentiment remains positive with consistent institutional inflow.
Analysts suggest that if Bitcoin stabilizes above $65k, bulls may target a new high, potentially reaching $100k. This surge highlights the market’s resilience and the strategic importance of understanding liquidation dynamics.
