Data shows around $280 million in cryptocurrency futures shorts have found liquidation in the past day as Bitcoin has touched $57,000.

Data shows the crypto futures market has seen a large amount of liquidations on Wednesday as Bitcoin has registered a sharp surge.

Data shows the Bitcoin shorts that had amassed after the recent crash have now been squeezed following the recovery in the asset’s price.

Data shows Bitcoin funding rates have turned negative recently, suggesting that shorts are accumulating on the market. Will a squeeze follow?

On-chain data shows Bitcoin funding rates have sunk into deep negative values, something that could pave way for a short squeeze in the market.

The opening of the trading week had seen bitcoin surge again and had touched as high as $32,000, albeit briefly.