Source: Binance
“Bitcoin’s break above $80,000 caught the crypto derivatives market badly positioned for the third time in recent weeks, triggering $370 million in total liquidations across 97,235 traders in 24 hours with short sellers absorbing the majority of the damage — a pattern that is beginning to look less like a series of isolated events and more like a structural feature of the current market. Bitcoin briefly tagged $80,594 in early Asian trading Monday — its highest print since January 31 — before pulling back to trade around $79,851 at time of writing. Of the $370 million in total liquidations, $301.93 million came from short positions, according to CoinGlass data, with shorts liquidated at roughly four times the rate of longs. Bitcoin alone accounted for $179 million of the wipeout, with Ether traders contributing $95 million.” (05/04/26)