Traders betting against the prices of major cryptocurrencies, including Bitcoin, Ethereum, and Solana, faced significant losses as Bitcoin’s price rebounded near $69,000, resulting in over $400 million worth of short positions being liquidated. This surge comes after Bitcoin dropped below $63,000 on Tuesday, contributing to the overall crypto market rising by about 6.6% in the last 24 hours. Ethereum and Solana also experienced notable gains, increasing by 12% and nearly 14% respectively, reflecting a broader altcoin recovery driven by renewed interest in blockchain scalability solutions. The current volatile environment has led to an uptick in liquidations, as traders continue to navigate shifting macroeconomic signals.
Bitcoin bounces back to near $69K, short sellers hit
