Quick Read
Bitcoin’s rally toward $85,000 triggered $300 million in short liquidations within a single hour, fueling a 7.57% daily gain for XRP.
XRP’s funding rate had remained negative since September 11, indicating a heavily crowded short position that unwound aggressively once liquidations began.
A daily close above $1.50 paves the way for a move to $1.70, while a close under $1.41 suggests the momentum from the squeeze has faded.
Just released. Our analysts combed the entire investment today.
In simple terms, when a trader shorts an asset, they borrow it to sell, anticipating they can repurchase it later at a lower price. If the price climbs and they are unable to cover their losses, the exchange intervenes to buy back the asset, which pushes the price even higher. CoinGlass reported that during the hour Bitcoin surpassed $84,000, approximately $313 million in positions were liquidated, with shorts representing 96% of that figure. Over a 24-hour window, roughly $710 million was liquidated, with shorts comprising 86% of that total.
