Bitcoin and Ethereum see $17M liquidations each as leverage unwinds amid stable prices

Bitcoin and Ethereum each experienced about $17 million in liquidations over the past 24 hours, with nearly equal amounts from long and short positions, signaling a rapid unwinding of leveraged trades despite minimal price changes. This two-way liquidation suggests a choppy market without a clear trend, as traders on both sides were forced out amid tight leverage near key price levels. Short liquidations dominated recent hours, indicating short squeezes and quick rebounds rather than sustained selloffs. The activity, concentrated on major exchanges like Binance, highlights ongoing market de-risking and potential for sudden price swings as traders adjust exposure.