The numbers tell the story. $537 million in total crypto liquidations over 24 hours, $433 million of that from shorts. Bitcoin alone accounted for $229 million, Ethereum $136 million. Over 180,000 traders got wiped. The largest single liquidation was a $12.4 million BTC-USDT short on Aster.
The setup was textbook: bearish positioning piled up over the weekend after the Hormuz blockade announcement, then Trump’s “Iran wants a deal” comment flipped sentiment overnight. The squeeze pushed BTC from $70,700 to above $74,900 in less than 18 hours. ETH jumped 8.8% to $2,378. When the market is this heavily short, it doesn’t take much to move price.
Just a headline.