{"id":515955,"date":"2023-01-13T09:30:03","date_gmt":"2023-01-13T14:30:03","guid":{"rendered":"https:\/\/wncen.com\/?p=515955"},"modified":"2024-06-11T11:43:04","modified_gmt":"2024-06-11T11:43:04","slug":"bitcoin-short-squeeze-93-liquidated-hour","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-short-squeeze-93-liquidated-hour\/","title":{"rendered":"Bitcoin Short Squeeze: $93 Million Shorts Liquidated In One Hour"},"content":{"rendered":"

Data shows a large amount of shorts have been liquidated in the Bitcoin futures market in the past day as BTC pushes above $19,000.<\/p>\n

$93 Million Bitcoin Shorts Were Wiped Out In Only 1 Hour<\/h2>\n

As per data from the on-chain analytics firm Glassnode<\/a>, short liquidations have spiked in the past day. A “liquidation<\/a>” takes place when a derivative exchange has to forcibly close up a contract on the Bitcoin futures market.<\/p>\n

Contracts usually liquidate when a certain percentage of the margin – the collateral amount that the holder had to put up in order to open the position, is lost due to the BTC price moving opposite to the direction the investor bets on.<\/p>\n

In the crypto futures market, large liquidations happening at once isn’t an uncommon sight due to a couple of reasons. First, most of the assets in the sector are generally very volatile, so sudden price swings can take place without warning.<\/p>\n

And second, many derivative exchanges offer leverage<\/a> (a loan amount taken against the margin) as high as 100x in the original position. High leverage being accessible in a volatile environment like this results in a large risk of positions being liquidated.<\/p>\n

Related Reading: Ethereum Rallies Above $1,400 As Sharks Accumulate<\/a><\/div>\n

Now, the relevant indicator here is the “total futures liquidations,” which tracks the total amount of both short and long liquidations that are taking place in the Bitcoin futures market currently.<\/p>\n

Here is a chart that shows the trend in this metric over the last few months:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have been deep red in recent days | Source: Glassnode on Twitter<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin futures liquidations have mostly involved short contracts in the last few days. This trend makes sense, as a sharp upwards move in the price was the trigger for these liquidations.<\/p>\n
During the FTX crash back in November, which observed the opposite kind of price move, a large number of longs were wiped out instead, as can be seen from the chart.<\/p>\n
Related Reading: Chainlink Bullish Signal: LINK Address Activity Returns To 2021 Levels<\/a><\/div>\n
Usually, a large enough rapid move in the price can trigger simultaneous mass liquidations that only feed said price move further. This amplified price move then liquidates even more contracts, and in this way, liquidations cascade together. A mass liquidation event like this is popularly called a “squeeze<\/a>.”<\/p>\n
Glassnode notes that $93 million in short contracts were flushed in just a single hour during the past day. These rapid liquidations suggest the Bitcoin rally triggered a short squeeze in the futures market.<\/p>\n
The price has now shot up even more following this squeeze, as is generally the case, and BTC is now above $19,000 for the first time since the collapse of the crypto exchange FTX.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $19,000, up 13% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has climbed up in the last couple of days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows a large amount of shorts have been liquidated in the Bitcoin futures market in the past day as BTC pushes above $19,000. $93 Million Bitcoin Shorts Were Wiped Out In Only 1 Hour As per data from the on-chain analytics firm Glassnode, short liquidations have spiked in the past day. A “liquidation” takes place when a derivative exchange has to forcibly close up a contract on the Bitcoin futures market. Contracts usually liquidate when a certain percentage of the margin – the collateral amount that the holder had to put up in order to open the position, is lost due to the BTC price moving opposite to the direction the investor bets on. In the crypto futures market, large liquidations happening at once isn’t an uncommon sight due to a couple of reasons. First, most of the assets in the sector are generally very volatile, so sudden price swings can take place without warning. And second, many derivative exchanges offer leverage (a loan amount taken against the margin) as high as 100x in the original position. High leverage being accessible in a volatile environment like this results in a large risk of positions being liquidated. Related Reading: Ethereum Rallies Above $1,400 As Sharks Accumulate Now, the relevant indicator here is the “total futures liquidations,” which tracks the total amount of both short and long liquidations that are taking place in the Bitcoin futures market currently. Here is a chart that shows the trend in this metric over the last few months: The value of the metric seems to have been deep red in recent days | Source: Glassnode on Twitter As displayed in the above graph, the Bitcoin futures liquidations have mostly involved short contracts in the last few days. This trend makes sense, as a sharp upwards move in the price was the trigger for these liquidations. During the FTX crash back in November, which observed the opposite kind of price move, a large number of longs were wiped out instead, as can be seen from the chart. Related Reading: Chainlink Bullish Signal: LINK Address Activity Returns To 2021 Levels Usually, a large enough rapid move in the price can trigger simultaneous mass liquidations that only feed said price move further. This amplified price move then liquidates even more contracts, and in this way, liquidations cascade together. A mass liquidation event like this is popularly called a “squeeze.” Glassnode notes that $93 million in short contracts were flushed in just a single hour during the past day. These rapid liquidations suggest the Bitcoin rally triggered a short squeeze in the futures market. The price has now shot up even more following this squeeze, as is generally the case, and BTC is now above $19,000 for the first time since the collapse of the crypto exchange FTX. BTC Price At the time of writing, Bitcoin is trading around $19,000, up 13% in the last week. Looks like BTC has climbed up in the last couple of days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":515972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,569,87435,87462,16084,16082,1119,1144],"class_list":["post-515955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-futures","tag-bitcoin-futures-liquidations","tag-bitcoin-short-liquidations","tag-bitcoin-short-squeeze","tag-bitcoin-shorts","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Short Squeeze: $93 Million Shorts Liquidated In One Hour<\/title>\n<meta name=\"description\" content=\"Data shows a large amount of shorts have been 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Short Squeeze: $93 Million Shorts Liquidated In One Hour","url":"http:\/\/wncen.com\/news\/bitcoin-short-squeeze-93-liquidated-hour\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-short-squeeze-93-liquidated-hour\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/kanchanara-9pCV2MB65y8-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/kanchanara-9pCV2MB65y8-unsplash.jpg?fit=1500%2C1000"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin futures","bitcoin futures liquidations","bitcoin short liquidations","bitcoin short squeeze","bitcoin shorts","btc","btcusd"],"dateCreated":"2023-01-13T14:30:03Z","datePublished":"2023-01-13T14:30:03Z","dateModified":"2024-06-11T11:43:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Short Squeeze: $93 Million Shorts Liquidated In One Hour\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-short-squeeze-93-liquidated-hour\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-short-squeeze-93-liquidated-hour\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/kanchanara-9pCV2MB65y8-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/kanchanara-9pCV2MB65y8-unsplash.jpg?fit=1500%2C1000\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin futures\",\"bitcoin futures liquidations\",\"bitcoin short liquidations\",\"bitcoin short squeeze\",\"bitcoin shorts\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-01-13T14:30:03Z\",\"datePublished\":\"2023-01-13T14:30:03Z\",\"dateModified\":\"2024-06-11T11:43:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/kanchanara-9pCV2MB65y8-unsplash.jpg?fit=1500%2C1000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/515955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=515955"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/515955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/515972"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=515955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=515955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=515955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}