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.
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