How many shorts were liquidated today?

TLDR

About $348 million of short positions were liquidated in the past 24 hours (today, UTC), reflecting a short?led flush in crypto derivatives as prices moved up per a market report.

1. Shorts made up roughly 85% of the flush, indicating a short squeeze dynamic.
2. Bitcoin (BTC) accounted for about $182 million of the short liquidations; Ethereum (ETH) ~$95 million; Solana (SOL) ~$18 million.
3. Totals update intraday and vary by data source; treat figures as approximate for today.

Deep Dive

1. Short Squeeze Magnitude

Shorts dominated liquidations today, with roughly $348 million wiped in the last 24 hours and about 85% of the total flush being short positions, consistent with a short squeeze dynamic noted in the report above.

• Short squeezes occur when rapid upside forces short traders to cover, which can accelerate price gains further.
• The skew toward shorts suggests positioning was leaning bearish before the move.

2. Asset Breakdown

BTC contributed the largest share with around $182 million in short liquidations, followed by ETH at roughly $95 million and SOL at about $18 million, per the report above.

1. Concentration in BTC and ETH is typical given their higher derivative open interest and liquidity.
2. SOLs inclusion indicates the move touched major altcoin books, not just BTC.

3. Why It Happened

A sharp upside move triggered forced closures of crowded short positions, which reinforced price strength and extended the squeeze, as described in the report above.

1. Short?heavy positioning plus upside volatility often produces cascade liquidations.
2. Figures are point?in?time and can shift quickly as price and funding change, so day?end totals may differ.

Conclusion

Todays liquidation wave was short?led, signaling a squeeze that amplified an upside move. If shorts keep dominating liquidations while prices rise, momentum can persist; if funding and positioning normalize, the effect may fade and volatility can re?balance.