Bitcoin’s 67-Day Funding Squeeze: Why Same Trades Had Different Liquidations

When the market finally surged and traders who were betting against the price were forced to cover their positions, an odd pattern emerged. Traders with nearly identical short bets – using the same amount of leverage, entering at the same time, and with the same size – didn’t all experience liquidation at the same price point. Some had portions of their positions closed, while others lost everything. Data from CoinGlass showed that liquidation volumes were spread unevenly across major cryptocurrency exchanges in the 48 hours following the surge.








