Bitcoin Liquidations Skyrocket 2,360%, Signaling Rapid Market Shift

In a stunning display of rapid market shifts, Bitcoin futures experienced an unprecedented liquidation spike of 2,360% higher than shorts in just one hour. According to CoinGlass data, this massive imbalance wiped out significant long positions while leaving short traders relatively unscathed. The price action itself appears to have played a major role, with Bitcoin plummeting from around $107,400 to near $106,500 before triggering a cascading liquidation event as over-leveraged longs were exposed.