Bitcoin rose to $60,394, Ether to $1,621 and Solana to 78 over 24 hours as a broader market rally forced bearish leveraged traders to close positions.
A crypto market rebound led to more than $437 million in short liquidations over the past 24 hours, highlighting how quickly bearish leveraged bets can unravel when prices reverse. Bitcoin climbed 2.5% to $60,394, Ether rose 2.53% to $1,621, and Solana gained 4.26% to 78 during the move. Short liquidations occur when traders betting on lower prices are forced to close positions as markets rise against them, a process that can amplify upside momentum as positions are bought back or automatically closed.