In a dramatic shift, crypto markets have faced an immense wave of liquidations totaling $635.9 million within the last 24 hours. A significant portion, more than $560 million, originated from short positions, signaling immense pressure on bearish traders. Bitcoin (BTC) led the charge with $293 million in liquidated short positions as its price surged past $94,000, showcasing a notable 6.29% gain in just one day. These market movements illustrate the volatility typical of cryptocurrency trading and highlight the potential for rapid profit shifts as investors grapple with the current momentum.