Crypto Futures Liquidations Surge Past $91M as Short Sellers Face Pressure

The cryptocurrency derivatives market has witnessed a significant increase in futures liquidations over the past 24 hours, with $91.55 million worth of positions closed.

This number is comprised primarily of forced position closures on major assets such as Bitcoin (BTC), Ethereum (ETH), and Toncoin (TON).

Data compiled from major exchanges reveals that short sellers have been bearing the brunt of the pressure, with an estimated 53.57% of Bitcoin's liquidations being short positions.

The market context suggests that while there has not been a dramatic price surge, sustained buying pressure or strategic long positioning has forced leveraged short sellers to exit their positions at a loss.