📈 Giant Short Squeeze: $618 Million Liquidated in 24 Hours
According to a report from U.Today, about $618 million in crypto trading positions were liquidated in one day, with $317 million coming from BTC short positions. This event occurred as BTC broke through a crucial resistance level in the range of $92,000–$94,000, triggering cascading liquidations from traders using high leverage (up to 100x) on platforms like Binance and Bybit.
The liquidation heatmap shows a concentration of orders in that resistance zone, indicating strong buying pressure as shorts were forced to close.