Bitcoin Surges Past $69,900, Triggering Record $2.7 Billion Short Liquidation Wave

A sudden surge in Bitcoin prices triggered a massive short liquidation wave, erasing over $2.7 billion in bearish positions and pushing BTC above key technical levels.

The price of Bitcoin climbed nearly 8% in 24 hours, briefly approaching $69,900 after trading near $64,100 earlier in the session. This rapid change in market sentiment caught many traders off guard, leading to a wave of liquidations that exceeded $3 billion across 172,108 traders.

Ethereum contributed another $1.13 billion in liquidations, while Solana accounted for approximately $104.67 million. The largest single liquidation was reportedly a $48.8 million Bitcoin position on Hyperliquid.

The scale of the short liquidations even exceeded the $2.47 billion recorded during the October 10, 2025 market crash, although total liquidations during that event reached roughly $19 billion.