Crypto Market Surges Past $3 Trillion Amid Bitcoin Price Spike

The crypto market experienced a significant rebound on Tuesday, briefly surpassing $3 trillion in capitalization. This increase was driven by Bitcoin's price surge to around $86,000, marking its highest level since late January. The BTC price gain of about 4.5% over 24 hours led to an upward movement in several major altcoins.

DOGE gained nearly 11%, XRP 5.7%, and Solana 3.6%. Behind this rebound, another notable figure emerged: over $920 million in short positions were liquidated on Monday. American Bitcoin ETFs also attracted nearly $1 billion in a single session.

Bitcoin's price movement above $86,000 was accompanied by strong short liquidations and an increase in leverage. The open interest of perpetual contracts approached $160 billion, its highest level since late October 2025.