Cryptocurrency Sparks Short Liquidation Cascade Over$ 300M as Price Blasts Past$ 94K

At around 4am ET, Bitcoins recently soared past$ 94,000, causing a significant short-selling spree that accelerated its higher trend.

According to statistics from CoinGecko, Bitcoin’s price has dropped a little to$ 93, 681 at the time of writing, up 5.7 % on the day.

According to statistics from Coinglass, around$ 300 million in Bitcoin clothes were liquidated in the past 24 hours as a result of the price behavior. The entire foreclosures of the crypto market totaled approximately$ 650 million, with short posts accounting for around$ 565 million of these forced shutdown.

According to Presto Research scientist Rick Maeda, who told that over$ 56 million of these transactions took place on Bybit, little positions for Bitcoin were the “largest single-day little bankruptcy event since October 2022.”

Maeda noted that this week, the financing charges for Bitcoin prospects on Bybit were still below 2 %. This suggests that what we’re seeing isn’t a” filled base trade,” but rather “either a large vertical bet” or” cross-exchange price variations being exploited that have collapsed and been unraveled in the short term,” he said.

Given these indicators, Maeda suggested that the bankruptcy cascade is a typical small squeeze, where quick increases force traders with little positions to near their trades, more accelerating higher price movement.

According to Maeda, “it amplifies back uncertainty as stops are triggered and margin calls pressure covering,” adding that liquidity in today’s markets is” still comparatively narrow compared to bull market peaks.”

Silver and cryptocurrency

According to Pat Zhang, head of research at WOO X, a unified bitcoin futures and spot investing software,” could continue to register new regional highs in combination with gold” over the past week.

In a research note exclusively shared with , Zhang claimed that “in the weeks since President Trump’s Liberation Day tariffs caused a global market rout and prolonged instability.

Zhang noted that “gold and gold-backed instruments experience strong inflows” when risk-off flows dominate. These” spill over into BTC” and show a “where macro-driven capital interacts with crypto-natives”

In a matter of weeks, the Bitcoin Fear and Greed Index, a crucial indicator of market sentiment, dramatically increased from 29 to 72 points, moving from “fear” to “greed” territory.

The decentralized prediction market Myriad, which was launched by ‘s parent company DASTAN, estimated that the index’s likelihood of moving above 55 on April 24 was just under 80 %.

According to Zhang, larger institutional factors are also at play, citing reports that Cantor Fitzgerald is reportedly planning out a$ 3 billion Bitcoin acquisition vehicle.

This development may “lead to a significant flow of Bitcoin from smaller retail investors to institutional users,” boosting Bitcoin’s market penetration and “laying the groundwork” for it to surpass$ 150, 000.