Bitcoin surpasses $91,000, 82% of short positions liquidated

Source: BlockMedia Original Title: [Derivatives Market] Bitcoin on the Rise, Short Positions Vaporized by 80% after Surpassing $91,000 Original Link: As Bitcoin surpassed the $91,000 mark and showed a strong upward trend, investors who had bet on a decline suffered significant losses. In just one day, the total liquidation amount reached $396 million, of which about 82% occurred in short positions, leading to assessments of a 'counterattack from longs.'

According to CoinGlass, a total of 396.17 million dollars(, or about 524 billion won), worth of positions were forcibly liquidated in the global cryptocurrency derivatives market over the last 24 hours. Among these, the amount of short position liquidations accounted for 324.64 million dollars, making up 82% of the total, indicating that the losses from short selling were concentrated due to the surge in Bitcoin.

The background of the surge on this day seems to be influenced by the Federal Reserve's transition signal regarding its liquidity policy. Crypto analyst Tom Lee stated that “the Fed has ended quantitative tightening QT,” which is interpreted as the end of the largest liquidity absorption measure since 2022. In fact, there have been cases where the market surged 17% in the three weeks immediately following the end of QT in the past, indicating that expectations of liquidity have been reflected across risk assets.

In addition, it has been confirmed that the Federal Reserve provided $13.5 billion in short-term funding to the U.S. banking system through repos, marking the second-largest instance of liquidity injection since the COVID-19 pandemic. The market interpreted this as a signal of substantial liquidity easing, responding positively across risk assets, including Bitcoin.

Bitcoin recorded a rise of 5.86% to $91,737 over a 24-hour period. During this upward movement, a total of $183.03 million worth of positions were liquidated, with $168.31 million being short positions. Ethereum ( ETH ) also settled at $3,012, up 7.4%, with $89.52 million worth of liquidations occurring. The short liquidation amount for ETH was $75.52 million, also indicating a significant share.

In the altcoin market, the liquidation flow centered on short positions continued. Solana(SOL) recorded a sharp rise of 10.14% to $139.6, resulting in $15.23 million in short liquidations, while Ripple(XRP) saw a 6.42% increase, with $6.06 million worth of short positions being cleared. Dogecoin(DOGE) and HYPE also recorded short liquidations of approximately $3.99 million and $4.69 million, respectively.

On this day, SUI, which recorded the highest increase rate, surged by 21.47%, leading to the liquidation of positions worth a total of $5.76 million. In particular, a short position amounting to $3.26 million was liquidated, maximizing the risk of short-term losses due to volatility.

Among the exchanges, the largest single liquidation occurred on one exchange. A liquidation order worth 13 million dollars was executed in the BTC/USDT futures market, which further exacerbated the short liquidation pressure across the entire market.