Bitcoin rebounds to two-week high as short liquidations top $437 million
Bitcoin rose to about $60,394, lifting its market value above $1.2 trillion and past Samsung, Micron and SK Hynix, as a broader risk rally forced bearish traders to cover and ETF outflows stayed in focus.
Bitcoin rebounded from recent lows to a two-week high of about $60,394, rising roughly 2.4%-2.5% over 24 hours as more than $437 million in short liquidations hit bearish leveraged positions. The move lifted Bitcoin’s market capitalization back above $1.2 trillion and to 16th in global asset rankings, ahead of Samsung, Micron and SK Hynix based on data cited from 8MarketCap. Ether rose 2.53% to $1,621 and Solana gained 4.26%, with Ether up almost 10% on the week and Solana nearly 19%, while investors continued to monitor ETF outflows as a potential sign of softer institutional demand.
- short liquidations: Forced closure of leveraged bearish positions when rising prices trigger margin calls or exchange liquidation thresholds
- ETF outflows: Money leaving an exchange-traded fund, often watched as a sign of weakening investor demand
- market capitalization: Total value of an asset in circulation