The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAs digital assets maintain their upward momentum, a rally in Bitcoin and Ethereum prices has triggered a wave of liquidations for traders betting against the market. According to reports, approximately $404 million in leveraged trading positions were liquidated over the past 24 hours. Short positions accounted for the vast majority of these forced closures, totaling $291.7 million and representing roughly 72% of the overall liquidation volume.
This short squeeze occurs amidst mixed performance in traditional markets, where the NY Empire State Manufacturing Index registered 5.7 on June 15, 2026, significantly missing the forecast of 14 per market data. Conversely, China's industrial production grew by 4.5% on June 16, 2026, bolstering global risk appetite and pushing cryptocurrencies past technical resistance levels that short-sellers had anticipated would hold.
Traders should closely monitor liquidity levels given the heightened volatility, with Bitcoin holding levels that support the current bullish trend as of the June 21, 2026 close. Looking ahead, market sentiment may be influenced by upcoming economic catalysts, including the 20-Year Bond Auction in the US and the API Crude Oil Stock Change report, both of which could impact investor appetite for high-risk assets.