Bitcoin, Ethereum and Solana Shorts Get Rekt as BTC Price Rebounds Near $69K
Major cryptocurrencies, including Bitcoin and Ethereum, surged Wednesday, triggering over $400 million in short position liquidations within 24 hours. Bitcoin rebounded to nearly $69,870, up more than 7% daily but still down over 21% for the past month. Ethereum and Solana led altcoin gains, rising 12% and 14% respectively. The overall crypto market climbed 6.6% in a day. Other notable gainers include Polkadot, Filecoin, Uniswap, Aptos, Avalanche, and Chainlink, all posting double-digit gains. Liquidations were heaviest for Bitcoin ($200 million), followed by Ethereum ($153 million), and Solana ($22 million). Crypto-related stocks also rallied, with Circle up 29%, Figure 15%, and BitMine Immersion Technologies 14%; Coinbase, Strategy, and MARA Holdings also posted significant gains. On the prediction market Myriad, sentiment shifted more bullish, with a 43% chance now forecast for Bitcoin to reach $84,000 next, up 14% from the previous day.
