Bitcoin's Green Candle Crushes $196M in Shorts—80K Traders Learn a Expensive Lesson

Bitcoin decided to have a moment today, blasting past the $69,000 level and sending the bears into a full-blown panic. According to CoinGecko, BTC is currently sitting pretty at $69,132—up 3% over the past 24 hours. Not to be left behind, the rest of the market caught the bullish fever. Ethereum climbed 3.7% to reclaim $2,130, while XRP joined the party with a 2.2% bump to $1.34.

The sudden upward move caught thousands of over-leveraged traders completely flat-footed. CoinGlass data shows 80,963 traders got liquidated over the past day, resulting in a total market wipeout of $273.53 million. That's a lot of dreams crushed in 24 hours, folks.

The short sellers bore the brunt of the pain. Nearly $196 million in short positions got liquidated compared to just $76.89 million in longs. The bloodbath was especially brutal during a 12-hour window, which accounted for $158.21 million of those short liquidations. Someone definitely forgot to check their leverage before bed.

Looking at specific exchanges: Binance saw $6.23 million in liquidations over a 4-hour period, with shorts making up nearly 70% of the damage. Over on Bitget, Bybit, and Gate, short liquidations dominated at over 86% of total volume during that 4-hour sprint. The bears really got absolutely demolished across the board.

Hyperliquid was the odd one out—long positions accounted for 82.6% of its $3.79 million in liquidations. Always has to be different, doesn't it?

And the crown jewel of losses? One unlucky trader on Binance lost a whopping $10.17 million on a single ETH-USDT trade. Ouch. That's not a liquidation, that's a life event.