Crypto Market Sees $593 Million in Short Liquidations Overnight

The claim is likely true based primarily on CoinDesk's April 18 report, "Bitcoin falls back to $76,000 as Iran shuts Hormuz again," which explicitly states that $593 million in shorts were liquidated overnight and links the move to the Iran/Hormuz reversal narrative. That source also gives the broader liquidation total of $762 million, consistent with the claim's framing of a large short squeeze. A conflicting PANews article reports much smaller liquidations and says longs dominated, but it is dated April 19, cites a different data provider, and likely refers to a different 24-hour measurement window. The unrelated X post provides no support. Because the strongest direct evidence supports the claim but there is some cross-source data inconsistency, the best assessment is likely_true with medium confidence.