Crypto Short Squeeze Triggers $404 Million Liquidations as Bitcoin, Ethereum Edge Higher

Roughly $404 million in leveraged crypto positions were liquidated over the past 24 hours, with losses concentrated heavily on traders betting against the market as Bitcoin (BTC) and Ethereum (ETH) held a mild upward bias. Aggregated ticker-level data showed long liquidations of about $112.6 million versus short liquidations of approximately $291.7 million—meaning close to 72% of forced closures came from the short side.