Bitcoin Surges Past $69,000; ₱11.83 billion ($196 million) in Shorts Liquidated
Over 80,000 traders were liquidated as Bitcoin climbed past $69,000, with Ethereum gaining 3.7% to $2,130 and XRP rising 2.2% to $1.34.
Key Takeaway
Short sellers betting against Bitcoin's rally paid the price as $196 million evaporated in one day.
Short sellers lost ₱11.83 billion ($196 million) as Bitcoin climbed past $69,000 with a 3% gain, according to CoinGlass liquidation data.
The 24-hour bloodbath hit 80,963 traders across exchanges. Long positions accounted for ₱4.64 billion ($76.89 million) in losses, but shorts took the brunt with total market liquidations reaching ₱16.51 billion ($273.53 million). Bitcoin traded at $69,132 while Ethereum gained 3.7% to $2,130 and XRP rose 2.2% to $1.34.
Binance saw ₱376.08 million ($6.23 million) liquidated in a four-hour window, with shorts making up 70% of those losses. The carnage was worse on Bitget, Bybit, and Gate, where shorts represented over 86% of four-hour liquidations. Hyperliquid bucked the trend with $3.79 million in four-hour liquidations skewing 82.6% toward long positions.
The concentrated pain came in a 12-hour window when shorts lost $158.21 million. One trader on Binance took the hardest hit with a single $10.17 million loss on an ETH-USDT position on April 6, 2026.
This article was written based on reporting from U.Today.
