Crypto Liquidations Hit $17 Million in 4 Hours as Short Squeeze Emerges

Crypto derivatives markets saw a bout of forced deleveraging over the past day, with CoinGlass data showing roughly $1.18 million in leveraged positions liquidated across major tokens. While the 24-hour picture leaned toward long-side pain, more recent exchange-level flows flipped to short liquidations—an indication that volatility is rising in both directions as traders reposition.