Cryptocurrency Market Sees Surge in Short Liquidations Amid Sharp Rebound

The cryptocurrency market has seen a surge in liquidations over the past four hours, with shorts accounting for the majority of losses. According to data from CoinGlass, $8.58 million in leveraged positions were liquidated, with short-side losses totaling $5.67 million (66.08% of total). This suggests that the recent rebound has been sharp enough to force traders who were positioned for further downside to close their positions at a loss.

The largest share of liquidations occurred on Binance, with $4.27 million (49.79%) of the total, while Hyperliquid saw $1.45 million (16.88%) in liquidations, with 99.1% of them being shorts. This indicates a concentrated unwind of sell-side leverage that failed to adjust to the sudden price spike.

Bitcoin and Ethereum remain the center of leveraged activity, with BTC recording $23.22 million in liquidations over the past 24 hours, followed by ETH at $16.91 million. Other notable assets such as Solana and smaller names like SNDK also saw significant liquidation flows.