In the past 24 hours, the crypto market has experienced a thrilling "short squeeze".
According to CoinGlass data, the total liquidation across the market approached $300 million, with over 90,000 people losing their investments.
Among them, short positions accounted for over 77%, totaling $230 million. Long positions only suffered a meager $68 million.
Bitcoin contributed $83.3 million to the liquidations, with shorts being wiped out by $67.8 million, accounting for 81%.
Ethereum was even harsher, with $90 million in total liquidations, where shorts took a hit of $75.2 million, accounting for 84%.
The most devastating was the native token of Hyperliquid, $HYPE — in a liquidation of $25.69 million, shorts were almost completely wiped out, accounting for over 95%.
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That heat map was a deep red, almost like it was bleeding. The largest single incident? A BTC-USD short on the Hyperliquid platform directly liquidated $13.25 million. $BTC
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Leverage players fell from heaven to hell overnight. Why is it so one-sided? Prices suddenly surged violently, and short stop losses exploded like a domino effect.
As a high-leverage perp leader, HYPE's trading volume exploded, and the short squeeze effect was amplified to the extreme. BTC and ETH soared alongside the market, and weak-handed shorts simply couldn't withstand it.
Looking now, the short-term outlook is bullish. Shorts have been washed out, and market sentiment has shifted from extreme fear to greed, with funding rates at high levels, and positive pressure continues.
HYPE is the hottest, with short-term sprinting space left, but it is also the most prone to corrections — after all, the rise has been too fierce, and profit-taking could hit the market at any time. What about the mid-term?
If macro conditions don't turn sour, Bitcoin could stabilize, and the valuation of emerging DeFi perp kings like $HYPE could soar again. But in high-leverage games, never go all in.
Setting stop losses near liquidation hotspots is the key to survival. This bloodbath reminds everyone: crypto has never been charity, leverage is a double-edged sword.
Today you are the hunter, tomorrow you might be the prey.
#ETH走势分析 #加密市场观察 #Strategy增持比特币
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