Live updates: Bitcoin hits $85,000 as short liquidations hit $300 million in an hour — SkimNews
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- Bitcoin traded at $84,700 on Monday, closing in on $85,000 after the European session opened near $82,000, per CoinDesk data
- Short sellers absorbed roughly $300 million of the $313 million in crypto positions liquidated in the past hour — about 96% of the total, per CoinGlass
- Ether accounted for nearly $59 million of the hour's liquidations, while Bitcoin contributed $226 million of the same-hour total
- Binance hosted the largest single liquidation — an $11 million bitcoin position — as 24-hour crypto liquidations reached roughly $710 million across nearly 135,000 traders
- The short squeeze is tightening rather than exhausting: shorts made up 86% of liquidations over the full 24 hours but 96% in the past hour alone, meaning forced buying is arriving faster now than earlier in the day
Why it matters: The squeeze is accelerating, not fading — shorts jumped from 86% of 24-hour liquidations to 96% in the past hour alone, meaning each wave of forced repurchases is catching the next tier of bearish bets faster than the prior wave. With roughly $300 million in short positions liquidated in 60 minutes, the feedback loop that pushes Bitcoin toward $85,000 still has fuel as long as collateralized shorts remain on the books.
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