According to glassnode, Bitcoin (BTC) futures short liquidations surged to $5.74 million yesterday, significantly above the 24-hour simple moving average (SMA) of $768,252.14. This sharp increase in short liquidations signals aggressive short covering and heightened volatility in the BTC derivatives market, which may lead to upward price momentum as traders exit bearish positions. Active traders should monitor these liquidation levels closely, as rapid short squeezes can introduce sudden price spikes and create new trading opportunities in the broader cryptocurrency market (source: glassnode, June 10, 2025).

According to @AltcoinGordon on Twitter, approximately $8.5 billion worth of Bitcoin short positions are poised for liquidation if BTC reaches the $115,000 level. This significant liquidation event could trigger a sharp upward price movement, impacting trading strategies and increasing volatility for both spot and derivatives markets (source: @AltcoinGordon, May 27, 2025). Traders should closely monitor BTC price action near the $115K threshold, as large-scale short liquidations often lead to rapid price surges and heightened market activity.