đš BITCOIN BREAKS $85,000 : $647M LIQUIDATION WAVE HITS SHORT SELLERS
#bitcoin surged above $85,000, catching bearish traders off guard and triggering a massive liquidation cascade across the crypto market.
In just one hour, approximately $159.9 million in leveraged positions were liquidated with shorts accounting for nearly 95% of the total.
Over 24 hours:
đž $BTC shorts lost around $277.5 million
đž $ETH shorts saw approximately $122.8 million erased
đž Total short liquidations reached roughly $647.9 million
The rally followed a turbulent period in which #bitcoin.â had fallen toward $75,000 amid renewed regulatory uncertainty in Washington. But once BTC reclaimed the $77,950, $79,300 and $80,000 resistance levels, short sellers became increasingly exposed.
The result: a classic short squeeze that pushed Bitcoin as high as $86,000.
đ Derivatives activity is heating up
Open interest across major crypto derivatives markets climbed 7.59% to $156 billion, while 24-hour trading volume jumped 39% to $224 billion.
This suggests traders are quickly returning to the market and increasing exposure as volatility picks up.
The rally also spread beyond Bitcoin:
đž ETH gained around 2%
đž BNB approached $777
đž ZEC traded above $1,500
đž NEAR surged 23% amid growing activity around its cross-chain Intents service
đž 95 of the 100 assets in the CoinDesk 100 finished higher
Institutional activity added further fuel. Michael Saylorâs Strategy reportedly resumed Bitcoin purchases following a three-week pause, while BitMine acquired more than 27,500 ETH, worth approximately $75 million.
đŻ Key level to watch
Bitcoin must now hold above $81,400 to preserve the immediate bullish structure. Remaining above this zone could open the door to further upside, while losing it may trigger profit-taking after the sharp liquidation-driven rally.
Bitcoin remains below its October 2025 all-time high of $126,080, but the latest move shows how quickly market momentum can reverse when leverage becomes overcrowded.
The bears expected another breakdown. Instead, they became the fuel for Bitcoinâs move above $85,000.