ETH Futures Liquidations Hit $229M in 24h Amid Short Squeeze
Coinglass data shows ETH futures liquidations have surged alongside wider crypto futures. In the past hour, $139 million was liquidated—$133 million in short positions—led by ETH at $114 million and BTC at $8.15 million. Across 24 hours, ETH futures liquidations soared to $229 million, with shorts accounting for $207 million and longs $22.2 million. This wave of forced liquidations highlights elevated market volatility and a powerful short squeeze as Ether’s price climbed unexpectedly. Traders should monitor margin levels, funding rates and order book imbalances for continued volatility and potential price momentum.
Bullish
This surge in ETH futures liquidations—particularly the $207M in short positions forced out over 24 hours—indicates a powerful short squeeze. Historically, such large-scale margin calls remove selling pressure and often precede rapid price rallies. In the short term, continued volatility and funding rate imbalances could push Ether prices higher as shorts cover positions. Over the longer term, sustained high liquidation events may signal increased leverage and risk, potentially leading to corrections, but the immediate outlook remains bullish for ETH based on current momentum.