Bitcoin Climbs Higher as $1.2 Billion in Shorts Liquidated
Bitcoin extended its rally, rising about 7.9% to around $77,137 after briefly hitting $79,320. The move capped a strong week, with Bitcoin up 23.2% over seven days, though still well below its level a year ago. The surge triggered a major short squeeze, with roughly $1.5 billion in crypto liquidations in 24 hours and about $1.21 billion from bearish bets. Bitcoin accounted for a large share of the wipeouts, including a single $23.59 million liquidation. The rally followed earlier losses but gained momentum from supportive Washington developments, including President Donald Trump backing the crypto market-structure Clarity Act and signaling efforts to bring offshore perpetual-futures trading onshore. Ethereum, Solana, and other major tokens also rose.
