Bitcoin Price Surge Leads to Over $179 Million in Short Seller Losses

The crypto market experienced significant volatility over the past 24 hours, resulting in over $264.94 million in total liquidations, according to Coinglass. This included a substantial $179.25 million loss for short sellers, significantly exceeding losses seen from long positions. Bitcoin contributed the largest portion of these losses, with a net outflow of $82.49 million despite surging past $95,000 yesterday. Other cryptocurrencies like Ethereum, Solana, and Dogecoin also suffered substantial price drops.