Crypto markets see $635 million in liquidations as Bitcoin surges past $94,000, with traders eyeing a potential short squeeze toward $100,000.
Crypto markets have faced a wave of liquidations over the past 24 hours, with total losses reaching $635.9 million, according to market data. Most of the liquidations (over $560 million) came from short positions, signaling growing pressure on bearish traders.
Bitcoin (BTC) led the liquidation charts, with $293 million in short positions wiped out as BTC surged past $94,000, marking a 6.29% gain within one day, according to CoinGlass data.
Ether (ETH) followed, with over $109 million in short liquidations as its price climbed nearly 10% to $1,787.
