#btc
show Bitcoin climbed past $80,000, hitting an intraday high near $80,808 and a market cap around $1.60 trillion, with total crypto value above $2.7 trillion in the same window. That move came with about $409 million of derivatives liquidations, including roughly $280 million in short positions, as nearly 90,000 leveraged traders were wiped out in 24 hours. This kind of short squeeze happens when rising prices force short sellers to close, which means buying BTC back and amplifying the rally.
A broader look at the squeeze between 19 and 22 August shows around $3.5 billion of shorts liquidated, one of the largest short squeeze episodes on record, which helped carry BTC from the mid $60,000s into the high $70,000s before spot demand took over.
show Bitcoin climbed past $80,000, hitting an intraday high near $80,808 and a market cap around $1.60 trillion, with total crypto value above $2.7 trillion in the same window. That move came with about $409 million of derivatives liquidations, including roughly $280 million in short positions, as nearly 90,000 leveraged traders were wiped out in 24 hours. This kind of short squeeze happens when rising prices force short sellers to close, which means buying BTC back and amplifying the rally.
A broader look at the squeeze between 19 and 22 August shows around $3.5 billion of shorts liquidated, one of the largest short squeeze episodes on record, which helped carry BTC from the mid $60,000s into the high $70,000s before spot demand took over.