2025-12-09 20:21:25

This rally came in strong—bears are probably writing their confessions overnight. The market suddenly flipped, and now everyone is scrambling to find explanations for the surge.

Leader Bitcoin: Exploded today. The intraday high shot up to around $94,200. Although there's been a slight pullback, holding above $93,000 is no problem at all. The "breaking $100k" topic is being hyped up again.

Ethereum following closely: Successfully reclaimed the $3,000 mark, which is a major psychological level for the bulls. Holding this level gives them more confidence to push higher.

Other major coins are partying together: Familiar names like SOL and ADA generally posted gains of 5% to 15%. The whole market vibe instantly switched from panic mode to party mode.

Today's biggest losers? — The short sellers

This rally can only be described as a "short squeeze machine." Prices surged so fast that leveraged short traders were directly liquidated by the system, losing everything.

In the past 24 hours, total liquidations across the market approached $500 million.
Even more painful, over 80% of that (about $390 million) came from short positions. You could say this rebound was built on the losses of short sellers. Many people were celebrating their shorts one moment, and their accounts were wiped out the next.

Why so sudden and fierce?

Once sentiment reverses, any news can be interpreted as bullish. The market is circulating a few explanations:

"Shakeout complete" theory: Many believe the recent plunge was orchestrated by big players to flush out weak hands and shake out the retail crowd. Once that's done, it's time to pump the price.

"Santa Rally" expectations: Looking at historical data, December is often a month with more gains than losses, so a lot of capital is betting that this seasonal pattern will repeat.

"Just need a reason": At the end of the day, the market is pinning high hopes on a possible Fed rate cut next year. Once expectations of looser liquidity take hold, risk assets (especially Bitcoin) tend to become highly sought after.

BTC-2.53%

ETH-6.4%

SOL-3.39%

ADA-11.34%

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ParallelChainMaxi

· 2h ago

Ha, 390 million shorts squeezed into minced meat, this is the price of betting in the wrong direction. --- Still far from breaking 100,000, don’t get too excited. --- Tired of hearing about the shakeout theory, basically just good luck hitting good news. --- SOL’s recent surge is indeed fierce, too bad I didn’t catch the train. --- 5 billion liquidation in 24 hours, how many people are unable to sleep overnight. --- The Christmas market hype is believed every year, I’m really impressed. --- How does it feel to short now? Just a second ago, you were riding the wave. --- Liquidity easing expectations? The Federal Reserve hasn’t even moved yet and people are already hyping stories. --- Standing firm at 93K is indeed a signal, but whether it can hold depends on what comes next. --- Wake up, don’t be blinded by this rebound, December is still long.

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MetaverseHermit

· 12h ago

The recent short squeeze has truly taught a lesson, with 500 million liquidation wiping out everything in a bloodbath, it's painful to watch. 94200 isn't enough, it has to break ten thousand to be considered finished? Greed is never satisfied, like a snake swallowing an elephant. This is the legendary "shakeout," friends who were shouting to buy the dip a few days ago are now getting rich? In plain terms, it’s a game of emotions; any excuse will do, as long as it can push the coin up. The name "short squeeze meat grinder" is perfectly fitting, haha. Doing short selling these days is really tough; one quick move and you’re wiped out. The Christmas rally talk has become tiresome; they say the same every year, and every year it happens. The Federal Reserve's rate cut expectations can support the coin to surge more than any technical analysis. Just holding steady at 93,000 is enough; greed will eventually lead to a fall. The bulls are now enjoying the feast; those who were crying yesterday are now opening champagne.

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OnchainDetective

· 12-10 17:39

Oh wow, this time the bears are about to experience what "surprise" really means. $390 million, just clear and clear, really fierce. Is breaking ten thousand still far away? It feels like this round of washout theory is about to start cycling again. Brothers using short leverage, this time you really earned a lesson money. Christmas market? I think it's Christmas "execution", a short-seller's exclusive. If you can't hold the positions at 92 and 93, you should have already run. Now all you can do is watch the rebound gather dust.

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TokenomicsTrapper

· 12-09 20:50

lol the classic exit pump pattern nobody wants to admit they fell for... "washing out weak hands" sure jan, that's literally the script they use every time. already saw the vesting unlocks calendar, this doesn't feel like it's holding past 95k ngl

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MEVSandwich

· 12-09 20:49

Haha, the shorts really got wrecked this time. Out of $500 million in liquidations, $390 million were theirs. Serves them right. Those short sellers go from heaven to hell in a second. I just love watching this. Bitcoin is definitely going to break $100k, the shakeout theory makes sense. Wait, after this pump, is it going to drop again? Feels a bit shaky to me. I've heard about the Christmas rally several times. Is it really that reliable every time? Fed rate cuts? Then we should be accumulating coins. Loose liquidity means we're definitely making gains. Honestly, who knows why it suddenly pumped? It just did. Times like these really test your mindset. You have to stay disciplined and not get swept up by emotions.

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UncleWhale

· 12-09 20:49

Shorts have been completely wiped out, that’s the crypto world for you—one second it’s heaven, the next it’s hell... If 93k holds steady, we’ll keep moving up; breaking 100k isn’t just a dream. Damn, at that 94k moment, my heart almost stopped. Talk of shakeouts and Christmas rallies again—anyway, as long as it’s going up, it’s bullish, huh? I’m tired of hearing these same lines. $500 million in liquidations... some people made a killing this round, others lost their accounts entirely.

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DeFiVeteran

· 12-09 20:48

Liquidation of 390 million in short positions—this is the price of betting in the wrong direction. Feels a bit satisfying. It keeps going up and up. Can it really break 100,000 this time, or is it just another round of retail investors getting rekt? All those "washout theories" and "Christmas theories" are just hindsight. No matter how you explain it, it doesn't change the fact that people got liquidated. BTC surged to 94K and I didn't buy the dip. That feels so bad. Shorts really got squeezed to death this time. Leverage is still something better left alone.

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StablecoinArbitrageur

· 12-09 20:34

Actually, looking at that $390M in liquidated short positions—the order book depth metrics tell a completely different story than what most people are extrapolating here. That 80% skew? Classic liquidity cascade effect, not exactly a bullish signal if you're analyzing the correlation coefficient between forced liquidations and sustainable price action.

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ChainDetective

· 12-09 20:23

Haha, the short sellers really lost everything this time—$390 million gone just like that. Shorts really got squeezed hard this round. Just look at that liquidation cascade to see how brutal it was. It touched 94,200—how far are we from breaking 100k? I just want to know how those shorts who were showing off a second ago are feeling now. I’ve heard the shakeout theory so many times my ears are numb. Anyway, as long as it goes up, it’s all considered bullish. The “Christmas rally” narrative is back again—they say this every year. Can the Fed rate cut expectations really hold the market up like this? Honestly, this rebound is a bit wild. Feels like the whales are frantically buying in. Ethereum holding above 3,000 is a decent development, I guess. Those who blindly shorted back then should really look at their own accounts now. With this kind of speed going up, the drop won’t look good either.

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