Bitcoin hits $85,000 after $648M wipeout forces mass buying
Bitcoin surged above $85,000 as a wave of short liquidations accelerated the cryptocurrencys strongest advance since January. Related Asset Bitcoin #1 BTC · $86,078.14 24-hour change: up 6.46% Loading price history… 24H Up 6.46% 7D Up 9.87% 30D Up 11.73% Data from CryptoSlate showed BTC gained more than 5% over the past 24 hours to reach $85,193, extending its advance over the past 35 days to about 29%. The asset had eased to $84,545 as of press time after breaking through levels that had constrained its recovery for much of the year. The rally caught bearish traders heavily exposed. CoinGlass data showed about $750.5 million of leveraged crypto positions were liquidated over the past 24 hours, with more than $648 million, or roughly 86%, coming from shorts. About 137,386 traders were liquidated during the period. Related Company CoinGlass Cryptocurrency derivative data analysis platform Bitcoin accounted for roughly $360 million of the liquidations, while Ethereum contributed nearly $171 million. The largest single liquidation was an $11.29 million BTC-USDT position on Binance. Related Asset Ethereum ETH · $2,745.36 24-hour change: up 5.44% The forced unwinding coincided with a sharp increase in aggressive buying across Bitcoin derivatives markets. CryptoQuant data showed net taker volume on Binance jumped from about $11









