Short Liquidations Dominate as $29M Crypto Wipeout Signals Squeeze Risk

Crypto markets saw $29.13 million in liquidations over 24 hours as of Aug. 9, with short liquidations accounting for $21.94 million or 75.32% of the total. The imbalance toward bearish bets being unwound typically signals abrupt price rebounds, catching short traders offside rather than indicating a broad shift in positioning.