Cryptocurrency market liquidations amounted to more than $ 575 million per day

The cryptocurrency market showed a resumption of growth, with its capitalization rising by 4.29% overnight. This was accompanied by a large-scale wave of liquidations of short positions: according to Coinglass, deals worth $ 575.59 million were closed within 24 hours, of which $ 468.53 million were accounted for by shorts.

Dogecoin showed the largest gains among the top 10 coins, rising by 9.1%. Lido Staked Ether added 8.83%, while Ethereum rose 8.75% and returned above $ 2000. Bitcoin also posted a 4.76% gain, briefly touching $ 70,027 before pulling back to $ 68,647.

According to Coinglass, Bitcoin alone accounted for about 40% of all liquidations, which equals $ 194.95 million in short positions. Ethereum recorded $ 203.8 million in liquidations, of which $ 175.16 million came from shorts. The largest single closing occurred on Hyperliquid in the BTC-USD pair, amounting to $ 10.41 million.

Analysts warn that the current rally may only be a «ref rally» and not a full-fledged trend reversal. A study by XWIN Research Japan shows a sharp drop in open interest, which indicates a phase of widespread market relief. This may stabilize the situation, but it does not mean that new structural liquidity will emerge.

An additional factor is the low Fund Flow Ratio on Binance (0.012), which indicates limited selling pressure, but at the same time does not confirm active accumulation. Experts emphasize that a sustainable recovery requires an increase in spot trading volumes, otherwise the market will remain vulnerable to short-term «short squeezes.»