Bitcoin Shorts Lost ₱979.54 million ($16.29 million) as BTC Spiked to $72,530
Bitcoin shorts got crushed as the price briefly spiked to $72,530, triggering ₱979.54 million ($16.29 million) in bear liquidations over a single hour. Long liquidations during the same period totaled just $150,600, creating a 10,860% imbalance.
Key Takeaway
One-hour liquidation imbalance shows shorts misjudged the $72,000 level—bulls now face ₱6.89 billion ($114.5 million) risk at $70,540.
Bitcoin shorts got crushed as the price briefly spiked to $72,530, triggering ₱979.54 million ($16.29 million) in bear liquidations over a single hour according to CoinGlass data.
Long liquidations during the same period totaled just $150,600—an imbalance of 10,860%, with shorts losing 108 times more than longs. The 1% price spike caught bears off guard, particularly those with stop orders clustered around $72,000.
The move came as Brent crude oil crossed $100, adding volatility to risk assets. Bitcoin's quick jump wiped out leveraged short positions that had bet on continued downside, while bulls holding long positions escaped relatively unscathed.
CoinGlass liquidation data shows high concentrations of stop orders tend to create rapid price moves once triggered. The $72,000 level had accumulated significant short interest, turning into a liquidation magnet once buying pressure pushed through.
The risk now favors bears. CoinGlass identifies a major liquidity cluster at $70,540 on the downside, where ₱6.89 billion ($114.5 million) in long positions could get liquidated if Bitcoin corrects below that level—nearly seven times the damage shorts absorbed in the one-hour spike to $72,530.
This article was written based on reporting from U.Today.
