Bitcoin tops $69,000 as shorts face record liquidation
Bitcoin, Ethereum, XRP and Solana rise as cryptocurrency markets see over $1 billion in shorts liquidated in a few hours, alongside fresh ETF inflows into spot Bitcoin and Ethereum funds.
Cryptocurrency markets saw their biggest short position liquidation day in history on Wednesday, with over $1 billion in shorts liquidated over the space of a few hours. 92 billion. 3 million from spot Bitcoin ETFs on Tuesday. 5 million.
fun and MemeCore. Notable Developments: Bitcoin, Ethereum, XRP Explode Over 6% Higher: Treasury's Move Will Send 'Inflation Soaring,' Peter Schiff Warns BTC Cracks $68,000 and You May Want to Look at Kalshi to Predict Bitcoin's Next Move Before Binance Does Strategy, Bitmine, Coinbase Surge Over 12% as CLARITY Act Optimism Builds Cameron Winklevoss Calls Bitcoin at $65,000 an 'Unprecedented' Buy: Does the Data Agree? XRP Open Interest Hits 2-Month High: Is That Bullish?
Bitcoin Volatility Craters to 27% as VanEck Flags 8 Of 12 Capitulation Signals Firing CLARITY Act Has a 'Really Good Shot' to Pass in September, Tim Scott Says Bitcoin ETFs See $486M Inflows in 2 Days: Could This Be the Best Week Since January? Trader Notes: Trader Michael van de Poppe said Bitcoin's surge to $69,000 wiped out shorts and cleared liquidity above $68,200. He expects a pullback rather than an immediate continuation, viewing $66,500—$67,000 as a buying zone before a potential move toward $72,000—$73,500.
Trader KillaXBT compared Bitcoin's current 2026 structure with its 2022 bottom, suggesting a pullback from $68,000—$70,000 could still hold above previous lows. However, the pattern would require BTC to re-enter the range and show clear 4-hour/daily exhaustion; failure to do so would invalidate the fractal. Image: Shutterstock