Short position disaster: 82 million liquidation in 4 hours, BTC's upward trend confirmed

According to the latest news, in the past 4 hours, the entire network experienced a total liquidation of $82.3959 million, including $64.9939 million in short positions and $17.4020 million in long positions, far exceeding the $17.402 million in long liquidations. Behind this wave of short liquidations is a chain reaction triggered by BTC breaking through a key level. Over the past 24 hours, 91,245 traders were liquidated, with a total amount of $200 million. The largest single liquidation occurred on Hyperliquid’s BTC-USD contract, valued at $2.0917 million.

Why are short positions being liquidated on a large scale

From the data structure, the core feature of this liquidation is very clear: 78.8% of positions are shorts, only 21.2% are longs. This is not random but reflects a turning point.

Market sentiment shift

BTC is currently priced at $93,277.40, with a 24-hour increase of 1.69%. This rise seems moderate, but it is deadly for shorts. According to relevant data, Coinbase Bitcoin premium index has been in negative premium for 7 consecutive days (-0.1184%), indicating that while selling pressure still exists on major US trading platforms, the overall market sentiment is loosening.

As the price begins to rise, traders with high leverage short positions are the first to be affected. Their stop-loss points are triggered one after another, creating a chain reaction of liquidations.

Market liquidity support

Related news shows that in the past 24 hours, ETH net inflow was $113 million, and BTC net inflow was $53.66 million. This indicates that institutions and large investors are buying on dips rather than selling in panic. The inflow of funds accompanied by a wave of liquidations suggests that the market is undergoing a cleansing process from bearish to bullish sentiment.

Warning of liquidation intensity

If BTC continues to break through $93,000, the cumulative short liquidation strength on major CEXs will reach $439 million. What does this number mean? It indicates that at the $93,000 level, there are still a large number of short positions waiting to be liquidated. Similarly, if ETH breaks through $3,200, the short liquidation strength will reach $533 million.

These high-intensity liquidation levels are like ropes tightening around the necks of short sellers.

24-hour liquidation overview

This scale of liquidation wave has not been uncommon in the past month. Similar liquidations occurred on January 11th ($75.9319 million), mainly in long positions. This reverse liquidation indicates that the market is experiencing an important emotional reversal.

Risks to watch for in the future

In the short term, two key levels require close attention:

• BTC $93,000: This is the position with the highest short liquidation strength ($439 million). If broken, it could trigger a new wave of liquidations.
• ETH $3,200: Similarly, a high short liquidation strength at $533 million. The risk of a breakdown is comparable.

However, it is also important to note that Coinbase’s long-term negative premium, while reflecting selling pressure in the US market, also indicates that institutions have not heavily chased the market higher. This “rising but with negative premium” situation usually means the market is still searching for balance.

Summary

The core of this massive short liquidation is a shift in market sentiment from extreme bearishness to a gradual bullish outlook. 91,245 traders were liquidated within 24 hours, with a total of $200 million in liquidations. This does not indicate a market collapse but rather a painful cleansing process.

The stop-losses of short sellers have become fuel for the bulls. Once BTC establishes an upward trend, every short position closed will push prices higher, creating a positive feedback loop. The key points to watch are whether BTC can hold above $93,000 and ETH above $3,200, where high liquidation strength exists, and whether Coinbase’s negative premium can gradually turn positive—signaling a major influx of institutional funds.