BTC jumps 5.47% to $68,418 amid mass liquidations, with shorts accounting for $1.23 billion of the $1.31 billion hourly total.
Bitcoin climbed above $68,000 to $68,418, marking a 5.47% gain over the past 24 hours. Ethereum followed, rising 8.4% to $2,081. The rally triggered widespread liquidations, with $1.31 billion in crypto positions wiped out in a single hour.
Short positions dominated the liquidations, totaling $1.23 billion of the hourly figure. Over the past 24 hours, total liquidations reached $1.57 billion, with $1.41 billion from shorts. Approximately 114,038 traders were affected, including a $32.18 million liquidation on Bitget’s ETHUSDT perpetual contract.