Bitcoin Rally Obliterates $285 Million in Short Positions—Here’s the Bloodbath

Crypto bears got steamrolled as BTC’s surge liquidated a quarter-billion in leveraged bets against it. Traders who gambled on a price drop now face margin calls—and a brutal reminder that the market hates pessimists. Meanwhile, Wall Street’s ’risk managers’ are still pretending they saw this coming.

In the past 24 hours, Bitcoin’s price surged past $93,000, triggering the liquidation of over $285 million in short positions. This sharp upward movement caught many traders off guard, forcing the automatic closure of their Leveraged bets against Bitcoin. The current BTC price stands at $93,642, with an intraday high of $93,723 and a low of $88,027. The massive liquidations highlight the risks of shorting in the volatile crypto market, especially as Bitcoin continues to outperform expectations.