Crypto Short Liquidations Nearly Double Longs as Market Rises
In the past 24 hours, cryptocurrency markets witnessed a significant wave of liquidations totaling $170.14 million, with short positions bearing the brunt of the damage.
Data from CoinGlass shows short liquidations reaching $111.14 million—nearly double the $59 million in long liquidations—aligning with a broader market recovery. Bitcoin and Ethereum led the charge, with BTC seeing $62.02 million in liquidations and ETH experiencing $41.28 million, as rising prices squeezed traders betting against the upside.
The liquidation heatmap highlights intense pressure on leveraged short positions across major assets. SOL recorded $9.83 million in liquidations, while a cluster of altcoins including XRP, KORU, and others contributed to the $13.36 million “Others” category. This imbalance underscores how upward price momentum in Bitcoin and Ethereum triggered cascading stop-losses for shorts, amplifying the rally.
With total 24-hour rekt figures climbing to $170.14 million, the market’s resilience suggests renewed bullish sentiment, though heightened volatility continues to punish over-leveraged participants on both sides. Traders are now watching whether this short squeeze can sustain the upward trajectory into the coming days.
Bitcoin Price Surges Over 5% on Weekend
Bitcoin has surged back above the key $63,000 psychological level in early Monday trading, reclaiming ground lost in late June amid a broader cryptocurrency market rebound.
The largest cryptocurrency climbed as high as $63,900 over the weekend before settling near $63,500–$63,800, marking its strongest performance in over two weeks. This recovery comes as traders position themselves ahead of the U.S. weekly open, with reduced holiday trading volume on July 4 contributing to a swift short squeeze that pushed prices higher.
Bitcoin price reversed end-of-June losses, rising roughly 5% on the week after finding solid support near $58,000–$60,000. With the Federal Reserve’s upcoming policy signals in focus and potential easing of macroeconomic pressures, bulls are eyeing a push toward $65,000 resistance. However, lingering concerns over liquidity and ETF flows keep the outlook cautious in the near term.
As U.S. markets prepare for a full trading week, Bitcoin’s ability to hold above $63,000 will be closely watched. A sustained breakout could signal renewed institutional interest, while a failure to maintain momentum might test lower supports around $62,000.
Overall trading volume remains moderate, reflecting a market still in consolidation mode following last year’s all-time highs.
