Short traders have been pummeled over the last 24 hours as the prices of top crypto assets spiked, contributing to a total of $1.12 billion worth of crypto positions liquidated during that span.
According to data from CoinGlass, shorts make up the bulk of that figure, with nearly $777 million worth of positions liquidated over the past day. Short positions are bets that the price of a particular asset will fall, with long positions being the opposite. Some $350 million worth of longs were zapped in the same span.
Bitcoin usually leads the list of liquidations, but over the past day, it’s been Ethereum traders weathering the most damage with $439 million worth of liquidations.
That’s because of Ethereum’s incredible price rise, with the…
May 10 2025
