Liquidations in the Crypto Market Approached $975 Million Amid BTC Rise

In the past 24 hours, the volume of liquidated positions in the cryptocurrency market reached $974.8 million amid rising prices. Bitcoin (BTC) rose by 4.64% to $80,480, once again surpassing the $80,000 mark. The majority of liquidations were among traders betting on price declines.

Short positions were closed for $575.48 million, or 59% of the total volume. Long positions accounted for $399.32 million. These amounts reflect the nominal volume of liquidated leveraged trades, not the overall reduction in the crypto market capitalization or precisely calculated trader losses.

For Bitcoin, the liquidation volume reached $396.04 million, with short positions accounting for 78.2%. This is significantly higher than the share of shorts in overall market liquidations. Ethereum (ETH) increased by 6.84% during the same period, reaching $2,418. The volume of closed positions for ETH was $241.79 million, with 56.5% being shorts.

Bitcoin Tests the $80,000 Mark Again

During the 24-hour period, liquidations affected 128,911 traders. The largest single liquidation of $38 million occurred on the ETH/USDT pair on the HTX platform. Binance accounted for 39% of the total liquidation volume among tracked platforms.

The $80,000 level has been unstable for Bitcoin since the end of October. On October 24, the price fell below it, and on October 28, it rose to approximately $80,800. The next day, prices fell again below $78,000. On Wednesday, November 4, BTC dropped to $75,700 before recovering above $78,300.

When prices rise, traders with short positions may be forced to buy the asset to close their trades, further fueling the upward movement. This mechanism is known as a short squeeze.

The high proportion of liquidated short positions indicates that part of the rise may have been driven by forced buying. However, liquidation statistics do not determine the sustainability of further demand. At the time of calculation, Bitcoin remained approximately 36.2% below the all-time high reached on October 6, 2025.