Binance Sees Largest Short Liquidation Since Bitcoin’s April Rebound

As Bitcoin fell from $109,000 to $78,000, a surge in short positions—especially on Binance—added substantial selling pressure from the derivatives market.

When BTC began to reverse its downtrend in early April, these short positions started to unwind, creating upward momentum as liquidations triggered buying pressure.

The most notable liquidation event since the trend reversal occurred on May 8, when over $31 million in short positions were liquidated in a single day on Binance.

Despite this, funding rates have stayed relatively low, hovering around 0.004, indicating that bearish sentiment remains prevalent and many traders are still cautious about going long.

If long positions gain dominance, this could further fuel the bullish trend and potentially push Bitcoin beyond its previous all-time high.