Nearly ten billion dollars in levered positions got wiped over the last 14 days, and 92% of that was from idiots betting the other way. The short squeeze shoved Bitcoin past $71K and turned the derivatives market into a fucking slaughterhouse.
▪️ The main event hit August 19-20: $2.7B-$3B in shorts vaporized in a single day — biggest since November 2021.
▪️ Bitcoin shorts alone lost $1.37B in that 24-hour window; Ethereum shorts added $1.01B.
▪️ Binance took the heaviest hit at $518M, Hyperliquid nearly matched at $513M, Bybit at $303M.
▪️ The squeeze worked like dominos: rising prices triggered margin calls, forced buys, more price hikes.
▪️ After the initial cascade, another $7B in short positions got picked off over the following week.
▪️ Macro tailwind: US Treasury bond buybacks compressed yields, giving risk assets extra fuel.
📊 Total liquidated (14 days):
$9.71B📊 Shorts % of peak day:
92%📊 Bitcoin peak price:
$71K-$72K📊 Binance short liquidations:
$518MIf you’re still holding a short position right now, you’re playing with fire — the squeeze cleared most of the weak hands, but the residual momentum could still pick off stragglers. For longs, this is a textbook reset: Bitcoin broke resistance, funding rates got flushed, and the path of least resistance is up until the next catalyst flips. Binance and Hyperliquid traders are the ones who felt the heat hardest — keep an eye on open interest there.
💬 «The largest concentrated liquidation of shorts since November 2021.» — Cryptobriefing / CoinGlass data
🔮 Hyperliquid nearly matched Binance in liquidations — decentralized perps are eating CEX lunch.
@exverse_chat
