TLDR
About $300 million of short positions were liquidated during Bitcoins rally on 2 Dec (UTC), with roughly $140 million wiped out in a single hour, per derivatives trackers reporting on the move.
- Around $300M shorts were liquidated in 24 hours as BTC spiked above $91k during the surge.
- Roughly $140M of shorts were liquidated in 60 minutes versus ~$3M longs in that window.
- On the prior days drop, total liquidations were ~$700M but mostly longs; shorts were ~$90M in that downturn.
Deep Dive
1. 24-Hour Shorts
The latest rally saw the bulk of liquidations hit short sellers, with about $300M shorts cleared over 24 hours as BTC reclaimed $91k. That sessions total liquidations were near $380M, skewed to shorts as reported.
Other windows this week also showed shorts bearing more pain when prices bounced, for example ~$145M shorts versus ~$98M longs in one 24h span covered by a market report.
When price turns up into crowded short positioning, squeezes can cascade and amplify upside without new fundamental demand.
2. One-Hour Spike
The most intense flush happened within a single hour: roughly $140M in shorts liquidated and only about $3M in longs, consistent with a sharp squeeze dynamic in that burst.
Derivatives maps also flagged short-liquidation clusters near $92.5k$94k, indicating zones where forced buybacks could accelerate if price keeps rising per a heatmap view.
If price pushes into liquidation pockets, short covering can fuel momentum; monitor nearby levels and leverage metrics.
3. Why It Varies
Liquidations swing with direction and leverage. During the 1 Dec selloff, total liquidations were nearly $700M but mostly longs (~$600M), with shorts only ~$90M in that downturn.
Across different days, totals ranged from ~$236M to ~$331M, with short-versus-long shares flipping as price direction changed in market roundups and another daily tally.
How many shorts depends on the exact window; specify asset and timeframe to avoid mixing very different sessions.
Conclusion
Short liquidations spiked during the latest BTC rebound, with roughly $300M in 24 hours and a ~$140M one-hour burst, illustrating a classic squeeze as price ran into crowded shorts. The mix flips quickly across sessions, so the actionable approach is to anchor any liquidation figure to a clear timeframe and asset, then monitor leverage pockets and nearby liquidation clusters for potential cascades.
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