Bitcoin and Major Cryptocurrencies See Significant Surge, Driving Record Short Position Liquidations

The cryptocurrency market recently experienced a remarkable surge, primarily led by Bitcoin (BTC) and Ethereum (ETH), resulting in the mass liquidation of short positions. This upward trajectory highlights increasing bullish sentiment among investors and traders. Analysts believe that concentrated liquidity in the $115,000 to $116,000 range could act as a key turning point for Bitcoin’s next bullish rally if price levels break above this critical zone.

Short Positions Under Pressure Amid Crypto Market Rally

Data extracted from cryptocurrency analytics platform Coinglass shows that an astounding $431.35 million (approximately ₩580 billion) worth of positions were liquidated over the last 24 hours, with short positions accounting for 83% of these liquidations—totaling $358.12 million. This volume reflects the significant losses faced by traders who had bet against the continued rise of cryptocurrency prices. Long liquidations, on the other hand, amounted to a comparatively minimal $73.22 million, reaffirming the dominance of short liquidations amidst the bullish trends.

Bitcoin Gains 3.5%, Ethereum Rallies by 7%, Altcoins Follow the Upward Momentum

Bitcoin climbed 3.47% to reach $115,179 within the last day, resulting in $171.46 million in liquidations, including $159.58 million in short liquidation events. Ethereum saw an even stronger rally, surging by 6.82% to hit $4,201, incurring $116.04 million in total liquidations—$100.84 million of those came from traders holding short positions.

Major altcoins such as Solana (SOL), Ripple (XRP), Dogecoin (DOGE), and Binance Coin (BNB) mirrored the market-wide bullish performance. Solana marked an impressive 5.26% rise, triggering $30.26 million in liquidations, with $23.82 million tied to shorts.

Breakdown of Altcoin Liquidation Data

Analyzing liquidation trends:

• Ripple (XRP): $3.28 million in short liquidations versus $2.39 million from longs.
• Dogecoin (DOGE): $3.95 million attributed to shorts and $670,000 to longs.
• Binance Coin (BNB): $3.13 million from shorts against $470,000 linked to long positions.
• High-risk token HYPE: A rapid 11.24% surge spurred $9.09 million in short liquidations.

Temporal Trends in Liquidation Activity

The dominance of short liquidations becomes even clearer when analyzing time-based data. Over a 12-hour span, total liquidations reached $258.06 million, with shorts accounting for $217.15 million of the figure. Further compression in activity was observed in the last four hours, with $54.73 million of liquidations recorded—of which $44.10 million consisted of shorts.

Liquidity Clusters at Key Bitcoin Price Levels

Insights into Bitcoin's liquidity reveal critical price zones. In the $115,000-$116,000 range, Coinglass identified approximately $64.81 million worth of concentrated short-position liquidity. This area presents a high potential for a short squeeze. If Bitcoin pushes beyond this threshold, cascading liquidations of short positions could fuel an accelerated price surge in the near term.

Conversely, analysts are monitoring the $110,000-$111,000 range—an important technical support zone where long-position liquidity is markedly distributed. This region also served as a base for Bitcoin's most recent upward movement. A breach below this level could potentially initiate widespread long-liquidation events, leading to significant downward pressure on the market.

Balancing Market Pressures

Market experts provide insight into the current dynamics within the cryptocurrency sector: “The market is currently shaped by upward momentum resulting from short liquidations, while also bearing heightened risks tied to concentrated long liquidations. The near-term direction hinges on whether Bitcoin successfully pushes past or falls below these liquidity-heavy ranges.”

Largest Single Liquidation Event

Among recent liquidation highlights, the most substantial event occurred on the Hyperliquid trading platform—a BTC-USD position worth $19.04 million was liquidated. This reflects the scale of financial activity tied to Bitcoin’s volatile price movements, as traders armed with leverage navigate dynamic markets.

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As Bitcoin and other major cryptocurrencies continue their rally, the tug-of-war between bulls and bears intensifies. Whether Bitcoin breaches key liquidity thresholds, launching further price increases, or succumbs to downward pressure from sizable long-liquidation clusters, the coming days are poised to offer critical insights into the market’s next phase. With short sellers facing heavy losses and liquidity dynamics in flux, the cryptocurrency landscape remains more unpredictable—and potentially favorable for bullish momentum—than ever.