Short squeeze forces $322M in 24-hour liquidations and sparks crypto rally

Beincrypto reports short-position liquidations in the cryptocurrency market surged to $322 million over 24 hours — the highest level since October 10 — as roughly 109,672 traders were liquidated and total liquidations reached $414.65 million. Coinglass data as of 2:00 am UTC on Tuesday showed short liquidations made up 77.67% of the total, with the largest single forced close a $91.33 million BTC‑USDT order on HTX.

The 12‑hour window was especially intense, recording $345.15 million in total liquidations, $305.43 million of which came from short positions. The squeeze coincided with renewed institutional flows: US spot Bitcoin ETFs recorded $471 million in net inflows on January 2, reversing a $348 million outflow on December 31, and cumulative ETF net inflows reached $57.08 billion with total net assets of $116.95 billion (6.53% of Bitcoin’s market cap).

Bitcoin traded around $93,700 while XRP jumped 10.8%; Ethereum and Solana rose 0.8% and 0.5% respectively. Exchange-level pain was concentrated at HTX ($108.35 million liquidated, 96.05% shorts), Hyperliquid (87.1% short ratio) and Binance ($95.65 million, 63.4% short ratio). The liquidation wave created a cascading effect, and crypto analyst Ardi noted on X that nearly $1 billion in shorts had been liquidated; the 24‑hour long/short ratio has since balanced to 49.99% long versus 50.01% short.

Key Topics

Crypto, Bitcoin, Spot Bitcoin Etfs, Htx, Binance, Xrp