Bitcoin surges above $80,000, triggering $183M in shorts liquidated

Bitcoin crossed the $80,000 threshold, and the traders betting against it paid dearly. In the span of a single hour, roughly $230 million in crypto short positions were liquidated as Bitcoin’s price punched through a level that had been acting as a ceiling for much of the preceding trading session. What actually happened in the market Bitcoin had been grinding through the mid-to-high $76,000s before the surge. When price broke above $80,000, it set off a chain reaction: leveraged short positions hit their liquidation thresholds, exchanges automatically closed those trades, and the resulting buy pressure from those forced closures added more fuel to an already moving market. Total liquidations across the crypto market reached approximately $192 million, with short positions accounting for more than $183 million of that figure. Bitcoin-specific liquidations were the dominant component, reflecting just how concentrated the short interest had been against the asset heading into the move. During prior comparable rallies, daily short liquidation totals reached between $220 million and $280 million, which provides some useful framing. This event, compressed into roughly one hour, was achi...