Over $2.16 billion in short positions were liquidated on derivatives markets in just 24 hours, accounting for more than 90% of the $2.37 billion in total liquidations recorded according to Coinglass data. More than 148,000 traders were caught on the wrong side, with Bitcoin alone seeing nearly $1.20 billion in short liquidations, a 30-to-1 ratio compared to long positions. BTC surged 5-6% in a single day, approaching $69,000 with volatility exceeding 9%.
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