Over 260,000 Traders Liquidated as Crypto Skyrockets — Massive Short Squeeze Sweeps the Market
Source Tradingkey
TradingKey – On Friday, July 11, the crypto market erupted into a full-blown rally, triggering a massive short squeeze that wiped out more than $1.1 billion in bearish positions.
During Asian trading hours, Bitcoin (BTC) surged past $118,000, while Ethereum (ETH) jumped nearly 9%, breaking through the $3,000 threshold for the first time in months. Bullish sentiment intensified across the board.
Bitcoin Price Chart – Source: TradingView.
Altcoins Join the Breakout
Led by BTC and ETH, altcoins posted explosive gains:
- Ethena (ENA): up 23%
- Sei (SEI) and Worldcoin (WLD): each up 22%+
- Arbitrum (ARB) and Fartcoin (FARTCOIN): up 19%+
Top Gainers – Source: CoinMarketCap.
Short Squeeze Triggers $1.2B in Liquidations
The rally caught short sellers off guard:
- Over 260,000 traders were liquidated in the past 24 hours
- Total liquidations exceeded $1.2 billion, with short positions accounting for nearly 90% of the losses
- BTC shorts alone lost $570 million, while ETH shorts shed $207 million
Liquidation Data – Source: Coinglass.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Tuesday, following China’s economic data.
Bitcoin has set a new all-time high (ATH) around $123,000, but cryptocurrency market inflows are still far from the peak observed back in 2024. Crypto Capital Inflows Are Currently Sitting At $51
Bitcoin’s (BTC) on-chain activity has accelerated over the past few days, with the leading cryptocurrency by market cap hitting successive new all-time highs (ATHs). As a result, several metrics
XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might find bids near the $2.840 support zone. XRP price started a fresh increase above the
