Short liquidations dominated the past 24 hours, signaling a fairly clear upward squeeze across the crypto market

📌 Over the past 24 hours, the crypto market saw about $365.33 million in liquidations, with more than 111,000 traders forced out of positions, showing that volatility is expanding again. This is large enough to reflect a meaningful move rather than just normal technical noise.

🔎 The more important detail is the liquidation structure, with shorts accounting for nearly $240 million, almost double the roughly $125 million from longs. That suggests the recent upside was driven not only by organic buying, but also amplified by a short squeeze, where rising prices forced short positions to close and pushed the market even higher.

💡 $BTC and $ETH remained the main leaders of this move, accounting for about $159.58 million and $85.14 million in liquidations respectively. That shows speculative flow is still concentrated in large-cap assets first, which then helps support positive sentiment across the rest of the market.

🚀 Beyond the leading majors, several high-beta altcoins also drew stronger attention, suggesting short-term capital is starting to search for higher returns outside of $BTC and $ETH. That usually supports near-term sentiment, but it also means volatility in altcoins can become significantly larger than in the core assets.

⚠️ Overall, the current picture still leans constructive in the short term, especially if $BTC can hold elevated levels and keep pressure on the remaining short positions. Even so, after a strong short squeeze, pullback risk still deserves attention, because once buying momentum slows, the market can easily see a reverse shakeout to flush the fresh leverage built up during the move