Bitcoin Breakout Sparks $756 Million Crypto Liquidation Wave

Crypto liquidations surged to over $756 million as Bitcoin and other major cryptocurrencies broke through resistance levels. The price of Bitcoin rebounded from a weekly low near $75,000, climbing above $85,000 for the first time since late January.

The rally lifted sentiment across the digital asset market, with Ethereum reclaiming $2,700 after posting a 6% daily gain and XRP rising more than 7% to approach the $1.50 resistance level.

As prices surged, bearish traders took the biggest hit, with short positions accounting for around $650 million of the total liquidations. Over 136,000 traders were affected by the liquidations.