More than $100 million in crypto shorts liquidated as Bitcoin reclaims $85,000
Cryptocurrency short sellers were hit with roughly $102 million in liquidations over a 24-hour window after Bitcoin climbed back above $85,000.
Leveraged crypto traders betting against the market faced substantial losses as roughly $102 million in short positions were liquidated over a 24-hour window, according to market tracker Whale Insider and commentator That Martini Guy. The wipeout followed Bitcoin climbing back above the $85,000 threshold, which caught short sellers on the wrong side of the price movement.[4][1][3]
Crypto Briefing reported that the liquidation wave demonstrates the inherent risks of aggressive leverage in volatile conditions, noting that such cascades can trigger self-reinforcing price rallies. That Martini Guy put the exact liquidation figure at $101.71 million and noted that forced short covering is providing additional upward momentum for digital assets.[2][1][3]
Macroeconomic conditions have also contributed to the rebound, according to That Martini Guy, who pointed to softer-than-expected U.S. inflation data lowering the odds of an October Federal Reserve interest rate hike. With Treasury yields retreating from recent peaks, risk assets have gained room to advance, prompting traders to monitor whether Bitcoin can sustain its position above $85,000 and target $87,000 next.[1][3]
Key facts
- Whale Insider reported that $102 million in crypto short positions were liquidated over a 24-hour period.
- Commentator That Martini Guy calculated the 24-hour crypto short liquidation total at $101.71 million.
- Bitcoin climbing back above $85,000 forced leveraged short sellers to cover their positions, per That Martini Guy.
- Crypto Briefing reported that the liquidations illustrate the hazards of high leverage and could prompt self-reinforcing price surges.
- Softer-than-expected U.S. inflation figures significantly decreased expectations of an October Federal Reserve rate hike, according to That Martini Guy.
- Treasury yields have pulled back from recent highs, easing pressure on risk assets, according to That Martini Guy.
Sources · 3 sources
- TM
That Martini Guy ₿@MartiniGuyYTPost on X ·
$101.71 MILLION worth of short positions have been liquidated across the crypto market in the past 24 hours. Bitcoin breaking back above $85K has clearly caught a lot of leveraged shorts on the wrong side of the move. I’m watching to see whether this short squeeze has enough momentum to push BTC towards $87K next.
Open source - CB
Crypto BriefingArticle ·
Crypto shorts take the brunt of $102 million liquidation wave The liquidation wave highlights the risks of aggressive leverage in volatile markets, potentially leading to self-reinforcing price surges. The post Crypto shorts take the brunt of $102 million liquidation wave appeared first on Crypto Briefing .
Open source - TM
That Martini Guy ₿@MartiniGuyYTPost on X ·
Bitcoin is pumping again. The biggest reason I’m watching is the shift in the macro backdrop. The latest US inflation data came in softer than expected, which has pushed the odds of another Fed rate hike in October significantly lower. Treasury yields have also pulled back from their recent highs, giving risk assets some room to breathe. Then you add the positioning side. Bitcoin breaking back above $85K has forced leveraged shorts to close, with around $102M in crypto short positions liquidated over the past 24 hours. That short covering is adding fuel to the move. Now I’m looking to see whether BTC can hold above $85K and turn this into a sustained breakout rather than just another squeeze higher. 👀
Open source - WI
Whale Insider@WhaleInsiderPost on X ·
JUST IN: $102,000,000 in short positions liquidated from the crypto market in the past 24 hours. https://t.co/W4gxS3br2d
Open source