Crypto Market Sees Over $300M in Short Liquidations in 24 Hours Amid Bitcoin's New Highs

The cryptocurrency market has experienced significant volatility, leading to massive liquidations of short positions. Over the past 24 hours, more than $300 million worth of crypto shorts have been liquidated, including $265 million in the last 24 hours. This includes $100 million in short positions within a single hour, with notable liquidations in Ethereum ($106 million) and Solana ($9.32 million). Bitcoin has reached new all-time highs in Japan, Argentina, and the Philippines, further driving the market's momentum. Additionally, $3 billion in shorts are set to be liquidated if Bitcoin hits $69,600, and $887 million in Ethereum shorts could be liquidated if it reaches $4,000. The largest single liquidation was $3.1 million in ETHUSDT. A total of 77,169 traders were liquidated, reaching $324 million, with the majority being short positions ($263 million) compared to long positions ($60 million).