BTC news: Bitcoin's rebound triggers the most short liquidations since late April
Bitcoin rebounded from last week’s drop and triggered a major short squeeze. In the 24 hours to Monday morning, short sellers lost about $504 million, far more than long traders’ $151 million losses. Total crypto liquidations reached roughly $655 million across more than 104,000 traders, led by bitcoin at $315 million and ether at $201 million. The biggest forced close was a $12.3 million bitcoin futures position on OKX. Bitcoin had fallen nearly 14% last week, briefly below $60,000, amid Strategy’s first bitcoin sale since 2022, weakness in AI stocks, and record outflows from spot bitcoin ETFs. Traders crowded into bearish bets near the lows, then were caught as bitcoin rebounded above $63,000. The rally later cooled as renewed Iran-Israel tensions hurt risk assets, though bitcoin remained above last week’s floor. Volatility may stay elevated ahead of U.S. inflation data and major IPOs.
