Long liquidations totalled only about $255 million against that $2.74 billion in shorts. The lopsided ratio shows how one-sided positioning had become before the move.
More than $1 billion in Bitcoin shorts were force-closed in roughly sixty minutes. Bitcoin's total liquidations reached $1.42 billion for the day, with Ether at $1.13 billion and Solana at $104.67 million.
Short liquidations during the October 2025 crash totalled $2.47 billion. Wednesday's cascade exceeded it, making this the deepest bearish unwind in the dataset.
A liquidated short buys because an exchange engine closes the position, not by choice. Once the cascade ends, that flow disappears and leaves a thinner order book behind.
The crypto Fear and Greed Index jumped from 46 to 62 in a single day on an 8.8% gain. A gauge that moves 16 points that fast is describing the price, not confirming it.
Check whether Bitcoin holds above $70,000 once open interest resets, whether spot volume confirms the move across venues, and whether funding rates normalise instead of flipping sharply positive.
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