The crypto market witnessed a powerful short squeeze in the last hours, with over $50 million in Bitcoin shorts liquidated, underscoring intense volatility and a surge in bullish momentum.
What happened: sudden push & forced exits
On July 10, reports from Watcher.Guru and CryptoPotato confirmed that more than $50 million in short positions were wiped out in just the past few hours.
This followed Bitcoin’s rapid move from around $110,000 to over $113,500, driven by fresh ETF inflows and a retreating U.S. dollar.
- Over a 24-hour window, total short liquidations topped $472 million, with $50 million concentrated in the last hours, sparking cascading stops.
Market pulse: crypto rallies alongside altcoins
- Ethereum, Solana and other altcoins tracked higher, lifted by renewed trader demand.
- Spot Bitcoin ETFs have now amassed over $50 billion, fueling continued buying pressure even as macro headwinds loom.
Why it matters: leverage & fragility
- A short squeeze forces traders betting against Bitcoin to close positions, often driving prices even higher in a feedback loop.
- Such concentrated liquidations highlight how high leverage and crowded trades can amplify swings, posing risks for both retail and institutional players.
- Eyes remain on the Federal Reserve and upcoming inflation data that could shift global risk appetite.
What’s next?
- If spot ETF demand holds, Bitcoin could test higher bands—but these same flows can reverse quickly if sentiment changes.
- Traders should brace for sharp pullbacks, typical after aggressive squeezes in leveraged markets.
Is this the start of a sustainable climb, or just another flash rally in crypto’s turbulent cycle? The next sessions will reveal the market’s conviction.
