A long squeeze occurs when a price drop forces leveraged long traders to urgently close their positions, adding selling pressure that triggers a snowball effect. On June 4, 2026, Bitcoin briefly fell below $62,000, causing more than $1.5 billion in liquidations in 24 hours according to CoinGlass data. Over 208,000 traders were liquidated, including over $800 million on Bitcoin and $386 million on Ethereum. This wave of liquidations occurred in a context of fragility, with nearly $1 billion in net outflows from US spot Bitcoin ETFs in one week. Analysts at Presto Research saw it as a competition for capital against gold and technology stocks linked to artificial intelligence.
Source: Read the original article
