Crypto
Bitcoin Surges Past $71K, Triggers Record Liquidation Wave
The price of Bitcoin has surged past $71K, triggering a massive liquidation wave that saw about $3.3 billion in crypto bets wiped out.
This is the largest liquidation event of 2026 and the third-largest crypto liquidation event over the past year.
The sharp rally also had a positive impact on stocks related to cryptocurrency, with MSTR, BMNR, COIN, and CRCL rising significantly in pre-market trade.
Michael Saylor's firm, Strategy (MSTR), saw its stock rise nearly 9% as retail sentiment around the company flipped to 'bullish' from 'bearish', accompanied by chatter at 'high' levels.