#24HourLiquidationsTop800M

$841 million liquidated in 24 hours.
That is the number that stands out. Coinglass data shows shorts absorbed the overwhelming share — $671 million against only $170 million in long liquidations. BTC alone accounted for $461 million of the total, with ETH adding another $176 million. The trigger was straightforward: BTC’s break above $75,000 set off a cascade of short squeezes that fed on itself as price continued higher.
On the 4-hour chart the result is visible in the vertical expansion. Price has reached 77,845 after tagging a 24-hour high of 79,520, with the low of the period sitting at 71,122. The move left shorter-term RSI readings deeply elevated — the 6-period near 98, the 12-period at 95, and the 24-period still above 90. MACD remains firmly positive and volume expanded during the leg. This is what a forced short covering event looks like when it coincides with an already strong directional move.
The open question is whether the liquidation cascade marks the fuel for further upside or the point at which the market has simply run out of immediate sellers to squeeze.
Bullish case: the imbalance itself is supportive. When shorts are liquidated at this scale and price continues to hold the higher territory, it often indicates that the path of least resistance remains upward. As long as the 75,000–76,000 zone continues to act as support on any retest, the squeeze can still have unfinished business. High volume at the highs with limited long liquidations suggests buyers were willing to absorb the supply that came from the forced covering.
Bearish case: extreme short-term RSI readings after an $841 million liquidation event frequently precede digestion or reversal. A move that relies heavily on short covering can lose momentum once the most vulnerable positions are already closed. If price fails to hold above 75,000 and the next sessions show declining volume with rising long liquidations, the cascade would look more like a climax than a foundation for the next leg.
I am treating the liquidation data as confirmation that the break above 75,000 was powerful enough to force real positioning changes. At the same time, the speed and the overbought conditions on the 4-hour chart argue against assuming the move can continue in a straight line. The market has cleared a large number of shorts; the next test is whether fresh demand steps in at these levels or whether the absence of that demand turns the recent high into a temporary peak.
Did you get caught on the wrong side of this squeeze, or were you positioned with it?
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