Crypto Liquidations Top $371M as DOGE Pullback Sparks Squeeze
Crypto liquidations on global derivatives platforms surged to $371 million over 24 hours, with 67% from short positions. Major single-coin liquidations included a $15 million BTC short on Binance and a $10 million ETH short on Bybit. Smaller altcoins such as DOGE, SOL, XRP and ARB saw multi-million-dollar liquidations after DOGE briefly pulled back from $0.2129 to $0.1973, triggering $594,130 in long liquidations and a 1,000% imbalance against bulls. The wave of crypto liquidations forced a short squeeze, lifting Bitcoin by 2% and Ethereum by 1.8%, while DOGE recovered above $0.20 amid a 36% volume surge and whale accumulation. Traders expect continued volatility as rising funding rates and market depth shape momentum. Sustained upside may depend on institutional participation and key resistance levels, while a reversal could intensify long liquidations.
Bullish
The combined news of widespread crypto liquidations leading to a short squeeze that lifted prices, whale accumulation, volume surges, and recovery above key levels signals renewed bullish momentum across BTC, ETH, and DOGE. In the short term, forced liquidation and short-covering support price spikes, while sustained volume and institutional participation remain crucial for longer-term uptrend. However, rising funding rates and potential resistance levels could spark further volatility or reversals, underlining the need for traders to monitor market depth and key technical thresholds.