$39M in Crypto Liquidations Driven by Short Squeeze as Prices Stabilize

Roughly $39.12 million in leveraged crypto positions were liquidated over four hours, heavily skewed toward short sellers. Short liquidations totaled $34.68 million (88.65%), while long liquidations were $4.44 million. The imbalance suggests a short-covering burst as prices stabilized and ticked higher across major tokens.