According to Woofun AI, Ethereum (ETH) staged a strong recovery to the $2,400 mark, driving Bitcoin (BTC) to rebound in tandem to around $82,000, a price move that directly ignited a wave of short position liquidations in the derivatives market.
BlockMedia reporter Ham Ji-hyun noted that during the short-term rebound, short positions were rapidly cleared out, with as much as 97% of liquidation value concentrated in short positions over the most recent one-hour period, highlighting the extreme characteristic of market sentiment shifting rapidly from bearish to bullish.
Looking at the overall liquidation data overview, market volatility expanded significantly. CoinGlass data shows that the total derivatives liquidation scale over the most recent 24 hours on the 19th was approximately $312.27 million (about 415.9 billion Korean won), up 2.41% from the previous day.
Breaking down the long-short ratio on a 24-hour basis, long position liquidations amounted to $186.91 million (about 249 billion Korean won), accounting for 59.9%, while short position liquidations totaled $125.18 million (about 166.7 billion Korean won), accounting for 40.1%.
This data indicates that over a longer cycle, long stop-losses remain the primary source of liquidations, but the structure is undergoing subtle changes. Notably, the short-term trend has seen a sharp reversal, with the proportion of short liquidations surging within an extremely short time frame.
Among the $83.51 million in liquidations over the most recent 4 hours, approximately 96%, or $80.12 million, came from short position liquidations. In the most recent 1 hour, the short bias was even more pronounced: out of $28.18 million in total liquidations, about 97%, or $27.42 million, were short position liquidations, while long position liquidations amounted to only about $760,000.
This rapid switch from long-dominated to short squeeze reveals the vulnerability of leveraged traders at key price levels. Woofun AI's compiled data shows that liquidation details for key assets further confirm this trend.
On a 24-hour basis, short liquidations were mainly concentrated in ETH and BTC. ETH's liquidation amount was $93.99 million (about 125.2 billion Korean won), making it the largest asset category by liquidation scale within 24 hours, of which short liquidations amounted to $53.85 million (about 71.7 billion Korean won) and long position liquidations totaled $40.13 million (about 53.5 billion Korean won).
Particularly in the most recent 1 hour, ETH's liquidation amount reached as high as $19.69 million (about 26.2 billion Korean won), of which 99.8% were short positions. This indicates that as ETH's price recovered to the $2,400 mark, positions betting on price declines were concentrated in being cleared out.
BTC's 24-hour liquidation amount was $67.70 million (about 90.2 billion Korean won), of which short liquidations amounted to $34.74 million (about 46.3 billion Korean won) and long position liquidations totaled $32.96 million (about 43.9 billion Korean won), with shorts holding a slight edge. In the most recent 1 hour, BTC also saw $3.63 million in liquidations, of which 96.3% were short positions.
Other asset performance and BTC liquidity heatmap analysis revealed potential price paths. On SOL, $11.85 million in liquidations occurred, while on ZEC, $13.44 million in liquidations took place. Over the 24-hour period, SOL and ZEC saw mainly long position liquidations, but within the 1-hour timeframe, short positions were concentrated in being cleared out.
On BTC's liquidation heatmap, from around $82,500 near the current price up to the $83,000 range, there is relatively ample liquidity. If the price continues its short-term rebound and touches this range, more short liquidations could occur. Further above, the mid-$84,000 level also has considerable liquidity strength.
Once BTC breaks through the $83,000 range, this area will become the next upside target worth watching. Conversely, if the price declines again, it will pass through the $81,000 level, at which point a strong downside liquidity zone will form in the $80,000 to $83,000 range. Especially around the $80,000 price level, since the heatmap shows high liquidity density in that area, volatility could intensify further if the price drops sharply.
Therefore, in the short term, whether the $83,000 range can be broken through and whether the $81,000 level can be held are key points worth watching. It should be noted that the liquidation map is not a tool for predicting price targets, but rather data used to show price ranges where leveraged positions are more concentrated.
Market activity indicators and conclusions show that leveraged trading has returned. The most recent 24-hour derivatives trading volume reached $1.2987769 trillion (about 172.9971 trillion Korean won), up 51.73% from the previous day. Open interest (OI) stood at $139.62254 billion (about 185.9772 trillion Korean won), up 0.87%.
Since both trading volume and OI are rising alongside the price recovery, it can be inferred that short-term leveraged trading has become active again. Investors can follow BlockMedia through Google News or check the latest news on the Telegram channel, including topics such as BTC, ETH, short liquidations, liquidity, and CoinGlass. The BM Data Briefing, "Faster than news, more accurate than sentiment," delivers market data interpretation every morning at 7 AM, covering BTC, BM20, the Fear and Greed Index, ETF fund flows, Korean won premium, and CLM altcoin analysis. For more Hong Kong stock market news, download the Zhitong Finance app. For more Hong Kong and overseas wealth management information, please visit www.zhitongcaijing.com (search for "Zhitong Finance"); to join the Zhitong Hong Kong stock investment group, please add the Zhitong customer service WeChat (ztcjkf).
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