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Crypto Shorts Lose $110M In Ten Minutes As Sudden Rally Forces Traders Out

TL;DR Roughly $110 million in bearish crypto positions were liquidated during a rapid ten-minute rally on October 2. The move was concentrated on short positions, creating the mechanics of a classic short squeeze.

NewsBTC Editorial TeamNewsBTC · October 2, 2026 · 1d ago

Assets in this piece

CoinGecko last prints — not a Dextape quote.

Key points

  • About $110 million in short positions were liquidated during a ten-minute rally on October 2 as Bitcoin, Ethereum and the wider market moved higher.
  • The article says no verified news catalyst explains the move, attributing it instead to crowded leverage and positioning in perpetual futures.
  • It notes the squeeze coincided with US spot Bitcoin ETFs returning to positive daily flows, and says leverage was reset rather than eliminated.

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