Crypto Shorts Get Rekt: Liquidations Near $800M as Bitcoin Price Spikes
Bitcoin surged to $96,867, its highest since mid-November, up nearly 5% in 24 hours, with top cryptocurrencies like Ethereum, XRP, and Solana also posting significant gains. About $700 million in short positions were liquidated in the last day, with $382 million from Bitcoin, $231 million from Ethereum, and $33 million from Solana, as prices jumped. The rally is partly fueled by optimism around the proposed U.S. Clarity Act, expected to clarify crypto market regulations, and positive sentiment following a favorable U.S. inflation report. Bitcoin ETFs saw $754 million in inflows—their strongest single day since October—while gold and silver set new highs. On prediction markets, bullish sentiment prevails, with users giving Bitcoin an 89% chance to hit $100,000 before dropping to $69,000.
