In the past 24 hours, Bitcoin (BTC) and Ethereum (ETH) have surged, causing over $50 million in short liquidations. This price spike pushed BTC above $66k and ETH over $3,500, reaching multi-week highs.
Despite the bullish trend, more than $58 million in long positions were also liquidated. According to Coinglass, Bitcoin saw over $30 million, and Ethereum had more than $21 million in short liquidations.
Other altcoins like Solana, Worldcoin, and XRP experienced significant liquidations, with meme coin Pepe seeing over $2.9 million in short liquidations.
The market recorded over $155 million in total liquidations, with shorts accounting for more than $94 million.
Analysts noted positive sentiment and net inflows, suggesting BTC could target new highs if it stabilizes above $65k. This trend underscores the strategic importance of monitoring market movements for investment opportunities.
