BREAKING: Short Sellers Get Squeezed as $58 Million in Bitcoin and Ethereum Bets Are Wiped Out — BTC Holds $83,500 Before CPI

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Bitcoin Ethereum price news short liquidations $58 million squeeze BTC holds $83,500 ahead of US CPI trading

The pain has flipped sides in the crypto market. Traders who bet that prices would fall were hit hardest in the last 24 hours, with about $58 million in Bitcoin and Ethereum short positions wiped out as both coins held steady before today's big US inflation report.

Bitcoin saw about $32.5 million in liquidations, and shorts made up roughly 78% of that — around $25.5 million. Ethereum saw about $26.4 million, with shorts close to 60% of the total. Across the whole crypto market, liquidations reached about $154 million, and the single biggest loss was a $3.95 million Bitcoin short on Binance.

Prices barely moved while this happened. Bitcoin traded near $83,550, moving between about $82,900 and $84,100 during the day, while Ethereum held near $2,500. That calm surface hides heavy leverage underneath — open interest in Bitcoin perpetual futures is still around $67 billion, so even small price moves can force big position closures.

This is the opposite of earlier this week, when Bitcoin dipped below $82,000 and long traders took about three-quarters of nearly $194 million in Bitcoin liquidations. With so many longs already cleared, the crowded side became the shorts — and when the price refused to fall, those shorts had to buy back their positions, which added fuel to the bounce.

Everything now depends on the US CPI inflation report due today. Headline inflation is expected near 3.6%, up from 3.4% in August, mostly because of higher energy prices. A hotter number could revive rate-hike fears before the Federal Reserve meets on October 27-28 and pressure risk assets, while a softer number could squeeze shorts even harder and push Bitcoin toward $84,000 and beyond.

Read also: BREAKING: Bitcoin Slides Below $82,000 as $771 Million in Liquidations Hit Long Traders

This post is news only, not financial advice. Always do your own research before buying or selling crypto.

Sources: The Crypto Times, CoinGlass, CoinGecko



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