To say that the recent market rally caught short-sellers by surprise would be an understatement. After the last two days’ increase of the crypto market, with Bitcoin reclaiming its $100,000 margin and Ethereum gaining up to 28% in just 24 hours—investors who were betting that these assets would move in the opposite direction either faced significant losses or complete liquidation.
Data from CoinGlass reveals that 250,934 traders were liquidated over the last 24 hours, for a total of $1.04 billion. The largest liquidation order came from a Binance user for $11.97 million.
Ethereum led the bear hunt with $253 million in short-sellers’ liquidation. Right after it, Bitcoin shorters lost $228 million. Interestingly, the hippo-inspired memecoin “Moodeng” ranked 4th after an incredible 160% increase in value, effectively liquidating $17.35 million of short positions in a single day.
Today market the largest short liquidation day since 2021, , signaling a dramatic shift in market sentiment.
This rally led the total cryptocurrency market capitalization to upwards of $3.26 trillion, gaining around $780 billion, or 31.45%, over the last 30 days alone. Market optimism is also on the rise as the market’s “Fear & Greed Index” now sits at 70 points.
Retail investors appear to be going through a FOMO phase—quickly joining back into the crypto market, anticipating another bull run. Meanwhile, institutional investors, who never truly exited the market, are doubling down on their positions. Companies like Metaplanet continue accumulating Bitcoin, fueling speculation that corporate-backed accumulation could further drive prices upward.
