Crypto Liquidations Hit $514M in 24 Hours, Shorts Dominate

The lopsided split — shorts taking the overwhelming majority of the $514 million in liquidations — points to a squeeze rather than broad deleveraging, meaning the move was driven by forced buying from bearish positioning rather than a fresh wave of longs being flushed. The concentration in Bitcoin and Ether liquidations reinforces that this was a majors-led event. Whether the short-side pain translates into a sustained shift in positioning, or merely clears out crowded bearish bets before the market settles, is the open question worth watching.