A $281 Million Short Squeeze
Bearish traders across the crypto market lost roughly $281 million in liquidations over a single 24-hour window — nearly double the losses on the long side — as a short squeeze pushed Bitcoin to its strongest level in two weeks. Ethereum and Solana extended gains alongside BTC in the move.
ETH and SOL Price Action
Ethereum has been trading in the $1,700–$1,735 range, while Solana climbed back toward the low-$80s after slipping into the high-$70s earlier in the week. Both assets have underperformed Bitcoin on a relative basis through the first half of 2026, part of a broader trend of capital concentrating in BTC, ETH, and stablecoins over smaller altcoins.
Altcoin Market Cap Shrinks
The total crypto market capitalization excluding BTC and ETH has fallen close to 23% during the first half of 2026, underlining how liquidity has narrowed and retreated into the largest, most liquid assets during this risk-off phase.
What Traders Should Watch
- Whether ETH can reclaim and hold above $1,750
- Solana’s ability to defend the $80 support zone
- Continued liquidation data as a gauge of over-leveraged positioning
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are highly volatile — trade responsibly and consult a financial advisor.
Related posts:
