Bitcoin Shorts and Ethereum Longs Wipe Out in $170M Crypto Futures Liquidation

Crypto futures liquidations topped $170 million over the past 24 hours, with Bitcoin and Ethereum leading the activity. According to market data, Bitcoin perpetual futures accounted for approximately $47.35 million in liquidations, with short positions representing nearly 60% of the total.

This suggests that a sudden price increase caught bearish traders off guard, forcing their leveraged bets to close at a loss.

Ethereum saw around $27.5 million in liquidations, but the composition was reversed: nearly 60% of those were long positions.