Over $116M liquidated in one hour as Bitcoin briefly tags $80K — shorts take nearly all the damage.

A sudden Bitcoin spike to $80,000 triggered $116 million in crypto liquidations within a single hour, with $114 million of that coming from short positions — a near-total wipeout of leveraged bears caught on the wrong side of the move.

The speed and concentration of the flush is notable: when more than 98% of liquidations hit one side of the book, it signals a classic short squeeze rather than broad deleveraging. Shorts that had built up anticipating further downside were forced to cover, amplifying the upward wick.

Whether the $80K tag holds as a launchpad or fades as a liquidity grab will be the key read in the sessions ahead. For now, the data confirms the bid was sharp enough to clean out a heavily positioned short side in under sixty minutes.