TODAY: Crypto markets see over $246M in short liquidations over the past 12 hours

Over $246M of short liquidations in the past 12 hours signals a sharp upside move that forced leveraged bears to cover, mechanically amplifying buy pressure. This typically reflects crowded positioning and increased short-term momentum, while also raising near-term volatility as derivatives markets rebalance funding, open interest, and margin. The event is broadly supportive for risk appetite across major crypto assets, with BTC as the primary benchmark.