According to glassnode, Bitcoin ($BTC) surged from $105,000 to $107,000 today, driven by a rapid wave of short liquidations. In just four hours, total short liquidations escalated from $105,000 to $359,000, measured by the 24-hour SMA (source: glassnode, June 9, 2025). Last week’s negative funding rates had signaled increased short positions, which were forcefully liquidated as the price rose. This squeeze on shorts highlights the ongoing volatility in the crypto market and signals a potential shift in trader sentiment, making BTC price action a critical watch for active crypto traders.

According to @EmberCN on Twitter, a major whale who shorted 1.875 million HYPE tokens ($57.14M) using 5x leverage since May 8 at an entry price of $20.4 was forced to close the position with a massive $23.52 million loss (-77%) after being liquidated. Despite continuously adding margin totaling $30.5M as HYPE price surged, the whale capitulated today. This event highlights strong bullish momentum in HYPE and suggests increased volatility and liquidations in meme coin sectors, impacting overall crypto market sentiment (Source: @EmberCN).

According to AltcoinGordon, approximately $3 billion worth of Bitcoin short positions are at risk of liquidation if BTC reaches the $100,000 level. This potential short squeeze could result in increased volatility and rapid price movements, offering significant trading opportunities for market participants focused on high-leverage scenarios. Traders should closely monitor open interest and liquidation levels as BTC approaches this psychological milestone, as substantial liquidations historically drive sharp upward moves (source: @AltcoinGordon on Twitter, May 2, 2025).

According to André Dragosch, PhD, crypto markets are experiencing a significant short squeeze, with $23.8 million in shorts liquidated over the past 24 hours, marking the highest level since early April cycle lows. Despite this, the current squeeze is not as substantial as the previous peaks, such as those observed in November 2024. This trend indicates a potential shift in market sentiment towards bullish dynamics, providing a critical insight for traders to adjust their strategies accordingly.