BTC $80K: 24H Shorts Paid $403M, 1H Just Flipped 76% Longs
Shorts paid $403M in 24 hours
BTC's run at the $80K level has been expensive for one side of the market. In the last 24 hours, liquidations across major exchanges totaled $582.2 million, and $403.1 million of that came from shorts, about 69%. The squeeze was concentrated in BTC and ETH. BTC alone accounted for $273.5 million of liquidations, with shorts taking $212.2 million or 77.6% of that total. ETH followed at $182.3 million, where shorts again paid roughly three quarters of the bill.
Binance carried the heaviest load at $205.1 million, with 67% short liquidations. Hyperliquid showed an even sharper skew at $80.6 million, 80% of it short. Bitget posted $70.9 million with 85% from shorts, which is where the single largest wipe of the window happened, a $40.7 million ETH short position.
The last hour flipped to longs
The telling move is the most recent hour. Total liquidations cooled to just $7.66 million in the last 60 minutes, and 76% of that was longs getting cut. That is a sharp reversal from the 4-hour window, where shorts still paid $190.1 million of the $206.3 million total, about 92%.
BTC pushed to $81,270 on Binance and $81,266 on OKX before stalling. It now trades near $80,431 on Binance and $80,440 on OKX, up about 4.4% on the day. The 24-hour low was $76,649 on Binance and $76,664 on OKX, which means the round trip from the low has already covered roughly 6%.
OI and funding say fresh longs are in
Open interest tells the same story from the other side. BTC OI stands at $46.8 billion, up 5.24% in 24 hours. Binance added 5.73% to its OI, Bybit 4.11%, Gate 3.16%. New leverage is being built as the price holds above $80K, not unwound.
Funding rates confirm it. Binance, OKX and Bybit all show 0.01% funding, back to a mildly positive level. During the worst of the crash, funding was deeply negative and shorts were being paid to hold. That is no longer the case. The market has repriced leverage to neutral while the squeeze was running.
What to watch now
The setup has changed character. For most of the day, shorts were the fuel and each push higher burned more of them. With funding back at neutral and OI building, the marginal buyer is now a fresh long. If price fails again near $81.3K, those new longs become the next source of liquidation pressure, and the wind could flip back the other way.
Data as of 12:15 Beijing time, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges. Price figures come from Binance and OKX spot markets.