Aug. 19 Crypto Market Surge Triggers Short Squeeze, Short Liquidations Hit Record $2.739 Billion

TechFlow: On August 21, according to Coinglass data, the total cumulative liquidations across the crypto market reached $2.987 billion on August 19, ranking eighth historically. Of this amount, short position liquidations totaled $2.739 billion, setting a record high for short squeezes, while long position liquidations amounted to approximately $248 million. Unlike historical large-scale liquidation events that are typically triggered by market declines causing long liquidations, this move was driven by a rally, making it the only short-squeeze-dominated event among the top 10 liquidation incidents in crypto history.