How much short liquidation occurred today?

TLDR

About $348 million of short positions were liquidated in the past 24 hours (as of 3 Dec, UTC), driven by a short squeeze per a market update from NewsBTC that cites Coinglass data (short liquidations figure).

1. Total liquidations were about $410 million, with shorts near 85% of the flush.
2. Largest contributors: Bitcoin around $196 million, Ethereum about $95 million, Solana near $18 million (the report above).

Deep Dive

1. Magnitude

The latest 24-hour window shows roughly $348 million in short liquidations and about $410 million in total liquidations, indicating shorts were the bulk of the deleveraging per the report above. This reflects a period where upward price movement forced bearish positions to close.

For broader context, another market snapshot noted total liquidations around $482 million this morning, suggesting figures can vary by update time and source (market snapshot). Aggregators update continuously, so today numbers can drift through the day.

2. Drivers

The move was characterized as a short squeeze: a sharp rally that forced short positions to close, feeding back into the price rise (the report above). Bitcoin, Ethereum, and Solana were the main symbols involved, aligning with their outsized derivatives open interest.

Short liquidations also tend to cluster around technical inflection points and macro-driven shifts in risk appetite. If follow-through buying is thin, the effect can fade quickly; if spot demand persists, shorts can remain under pressure.

Conclusion

Todays market saw a short-heavy liquidation wave of roughly $348 million, with Bitcoin, Ethereum, and Solana leading the impact (figure cited above). If the rebound continues with solid spot flows, short squeezes can extend; if volumes and momentum fade, liquidation pressure should ease.