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Over 260,000 Traders Liquidated as Crypto Skyrockets — Massive Short Squeeze Sweeps the Market

TradingKey

AuthorBlock Tao

Jul 11, 2025 6:31 AM

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TradingKey – On Friday, July 11, the crypto market erupted into a full-blown rally, triggering a massive short squeeze that wiped out more than $1.1 billion in bearish positions.

During Asian trading hours, Bitcoin (BTC) surged past $118,000, while Ethereum (ETH) jumped nearly 9%, breaking through the $3,000 threshold for the first time in months. Bullish sentiment intensified across the board.

Bitcoin -Price Chart – Source-TradingView

Bitcoin Price Chart – Source: TradingView.

Altcoins Join the Breakout

Led by BTC and ETH, altcoins posted explosive gains:

Ethena (ENA): up 23%
Sei (SEI) and Worldcoin (WLD): each up 22%+
Arbitrum (ARB) and Fartcoin (FARTCOIN): up 19%+

Top- Gainers – Source-CoinMarketCap

Top Gainers – Source: CoinMarketCap.

Short Squeeze Triggers $1.2B in Liquidations

The rally caught short sellers off guard:

Over 260,000 traders were liquidated in the past 24 hours
Total liquidations exceeded $1.2 billion, with short positions accounting for nearly 90% of the losses
BTC shorts alone lost $570 million, while ETH shorts shed $207 million

Liquidation- Data – Source- Coinglass

Liquidation Data – Source: Coinglass.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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