Crypto Bears Face $371 Million Liquidation Amid Bitcoin and Ethereum Rebound

Recent data indicates that a rebound in Bitcoin and other cryptocurrencies has led to significant short liquidations, totaling over $500 million in the derivatives market.

Mass Liquidation Event Overview

Liquidations mainly affected short investors, accounting for 73.7% or $371 million of the total.
The surge in liquidations followed positive news of a ceasefire between Israel and Iran.
Previously, US strikes on Iranian nuclear facilities caused market declines, leading to long liquidations.
Bitcoin and Ethereum experienced the highest liquidations, with Ethereum at $168 million surpassing Bitcoin's $153 million.
Ethereum's higher liquidation may reflect its larger price increase of 7% compared to Bitcoin’s 3.5%.
Altcoins like Solana and XRP saw liquidations of $29 million and $13 million, respectively.

Additionally, Bitcoin taker buy volume has increased on Bybit, with recent spikes in the Taker Buy Sell Ratio indicating potential upward price movement for BTC.

Current BTC Price

As of now, Bitcoin is priced at $105,100.