Crypto
Bitcoin Shorts Lose Billions as Price Surges Past $69,000
A sharp rebound in Bitcoin prices triggered a record wave of short liquidations worth over $2.7 billion as it approached $69,900.
The surge erased more than $1 billion in bearish positions in just one hour, with total liquidations reaching approximately $3 billion across 172,108 traders.
Ethereum contributed another $1.13 billion in liquidations, while Solana accounted for around $104.67 million.
The largest single liquidation was reportedly a $48.8 million Bitcoin position on Hyperliquid.
The rally coincided with President Donald Trump meeting executives from Coinbase, Payward and Blockchain.com at the White House, following the SEC's proposal for new crypto-specific fundraising exemptions.