Bitcoin and Ether Rebound Amid Short Liquidations Totaling Over $427 Million
On September 11, 2026, Bitcoin (BTC-USD) and Ether (ETH-USD) experienced a rebound as short liquidations surged to over $427 million. Ether led the recovery with an intraday gain of up to 8.3%, while Bitcoin rose by less than 4%. Coinglass data showed that more than $255 million in Ether shorts and $172 million in Bitcoin shorts were liquidated within a 24-hour period, signaling signs of a short squeeze. The rapid price gains appeared to be driven largely by speculative trading rather than new buyer inflows. Funding rates for Ether futures turned negative on perpetual markets, indicating that longs were collecting payments from shorts maintaining exposure. Adam McCarthy of LO:TECH noted the forced deleveraging exacerbated upward movement as traders paid to hold short positions during a rally. This pattern mirrored late August's surge in Bitcoin, which led to $2.7 billion in liquidations after Treasury Department bond buyback announcements boosted risk assets and lowered yields.
Topics: Bitcoin Crypto Market Volatility Ether Short Liquidations