Crypto Markets See Record Shorts Liquidation as Bitcoin Hits $69,490 and Ethereum Rises 20% on Historic Day
Cryptocurrency markets experienced their biggest short position liquidation day in history on Wednesday, August 19, 2026. Over $1 billion in shorts was liquidated over a few hours. Bitcoin (BTC) surged to $69,490, Ethereum (ETH) rose by 20% and XRP, SOL pumped 10%. According to Coinglass data, 126,017 traders were liquidated in the past 24 hours for $1.92 billion.
Spot Bitcoin ETFs saw net inflows of $189.3 million on Tuesday, while spot Ethereum ETFs had net inflows of $71.5 million. Notable gainers include Bitway, Pump.fun and MemeCore.
Trader Michael van de Poppe expects a pullback rather than an immediate continuation, viewing $66,500-$67,000 as a buying zone before a potential move toward $72,000-$73,500. Trader KillaXBT compared Bitcoin's current 2026 structure with its 2022 bottom, suggesting a pullback from $68,000-$70,000 could still hold above previous lows.