BTC has reclaimed above $61,500, triggering a rapid market rebound. Over the past 24 hours, approximately $1.83 billion in total liquidations occurred across the network, with short positions accounting for $1.249 billion (68%). This rally has been primarily driven by short covering rather than significant new leveraged buying. From a funding perspective, BTC saw a net inflow of about $283 million over the past 24 hours; ETH experienced a much stronger net inflow of $1.479 billion; SOL recorded a net inflow of $695 million and has gained over 20% in the last seven days, indicating continued capital flow into strong assets. Notably, BTC’s funding rate remains at just 0.0001%, still at a relatively neutral level, suggesting market sentiment has not yet become overheated and there is no sign of crowded trades in the short term. Key levels to watch next: - $62,145: The first major cluster of short liquidations above. A sustained breakout could trigger additional stop-losses in the $62,327–$62,761 range, potentially fueling further upside. - $61,100: A critical short-term support level. If price stabilizes here after a pullback, the bullish structure may continue. - $60,500: A key defensive level. A breach below this level could prompt a retest of support near $60,000. Currently, this rally has clearly restored market sentiment. However, whether it evolves into a sustained trend will depend on whether $62,145 can be broken with strong volume and whether capital inflows persist. Risk Disclaimer: The above content is provided solely for market information and data analysis and does not constitute any investment advice.
$124.9M in shorts liquidated as BTC targets a $62,145 breakout
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Summary
BTC price rose above $61,500, triggering $124.9 million in short liquidations over 24 hours. Total liquidations reached $1.83 billion, with short covering driving the rebound. BTC recorded a net inflow of $28.3 million, while ETH surged with $1.479 billion. BTC’s price remains near a 0.0001 funding rate, indicating balanced sentiment. A breakout above $62,145 could trigger additional short stop-losses and push prices higher. Key levels to monitor include $62,145, $61,100, and $60,500.
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