Crypto markets pushed higher over the past 24 hours, but the bigger story was not the size of the rally—it was the violent unwind of bearish leverage. Roughly $91.76 million in leveraged positions were forcibly closed, with liquidations heavily skewed to the downside: short positions accounted for more than 84% of the total, a clear sign of a ‘short squeeze’ that exposed a broad positioning misread.
According to aggregated derivatives data, about $77.56 million of the liquidations came from shorts, suggesting that traders who had bet on further downside were forced out as prices climbed,…
Source:: Crypto Rally Triggers $91.76 Million Liquidations as Shorts Dominate Squeeze