- Cumulative short liquidation leverage has reached $15.67B, while long liquidation leverage is at just $177.85M.
- Binance leads with $92.44M in liquidations, followed by Bybit at $85.91M and OKX at $10.28M, showing concentrated activity.
- Coinalyze data shows $31.7M liquidated in 24H, with shorts accounting for $20.9M and longs contributing $10.7M.
Bitcoin markets are under pressure as short traders confront growing risks of forced closures at higher price levels. If Bitcoin surges to $125,000, more than $15.6 billion in short positions could be liquidated.
At the time of writing, Bitcoin was trading at $110,664 showing the imbalance between short and long exposure is becoming increasingly visible. Analysts note that the trend points to a market heavily leaning toward short side risk, with liquidation activity intensifying above recent resistance zones.
Rising Short Exposure and Market Imbalance
According to exchange liquidation maps, cumulative short liquidation leverage has reached $15.67 billion. This sharp increase highlights mounting vulnerability for traders betting against Bitcoin.
In contrast, cumulative long liquidation leverage stands at just $177.85 million. This wide disparity underscores that the pressure rests predominantly on the short side.
Exchange-level breakdowns reveal that Binance has recorded $92.44 million in liquidations, while Bybit followed closely at $85.91 million. OKX posted $10.28 million, showing smaller activity compared to the two larger platforms.
Most short liquidations occurred between $108,906 and $111,209 as Bitcoin surged above key resistance. These moves led to aggressive short covering, which led to upward momentum.
Exchange Activity Shows Bybit Leading Daily Liquidations
Data compiled by Coinalyze further details recent liquidation statistics. Over the past 24 hours, total liquidations amounted to $31.7 million. Of this figure, $20.9 million came from shorts, while $10.7 million stemmed from long positions.
Perpetual contracts accounted for nearly the entire volume, with futures contributing only $6,100 in liquidations. Bybit led exchanges with about $9 million, mainly driven by short exposure. Binance recorded $7 million, showing a more balanced split between long and short liquidations. OKX followed with roughly $4 million, and Huobi added $1 million. Meanwhile, BitMEX and Bitfinex recorded negligible amounts.
Short Liquidations Drive Current Market Structure
From a trend perspective, the steady climb in cumulative short liquidations reflects a short squeeze environment. Rising prices have forced short traders to exit positions rapidly, creating additional buying pressure. In contrast, the decline in long liquidations shows that bullish positions face limited stress at current levels.
Market activity around $111,000 reflects this shift clearly. Short exposure continues to build while long traders remain comparatively insulated. The imbalance shows that liquidation-driven price moves remain a central factor in Bitcoin’s short term movement.
