Bitcoin pump to $63,700 triggers the most short liquidations since late April

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin pump to $63,700 triggers the most short liquidations since late AprilTraders betting against bitcoin lost $504 million over 24 hours as it bounced from below $60,000, though a fresh Iran-Israel flare-up pulled prices back on Monday.By Shaurya Malwa Jun 8, 2026, 5:53 a.m. 2 min readMake preferred on What to know: Bitcoin’s sharp rebound from last week’s lows triggered about $504 million in losses for short sellers over 24 hours, the largest daily hit since late April.Total crypto liquidations reached roughly $655 million and affected more than 104,000 traders, with bitcoin and ether positions accounting for the bulk of forced closures.After briefly climbing near $63,800 over the weekend and touching $63,700 Monday, bitcoin eased to around $62,900 amid renewed Middle East tensions and ahead of key U.S. inflation data and major IPOs.Bitcoin's recovery from last week's lows has crushed the traders who bet against it.Short sellers, who profit when prices fall, lost $504 million over the 24 hours to Monday morning, the most in a single day since late April, according to CoinGlass. Bets on rising prices lost just $151 million by comparison.Total liquidations across crypto reached about $655 million and hit more than 104,000 traders. Bitcoin positions accounted for $315 million and ether for $201 million. The single biggest forced closure was a $12.3 million bitcoin futures position on the exchange OKX. A liquidation is when an exchange automatically closes a leveraged bet that has moved too far against the trader.The squeeze caps a volatile stretch for the world's largest cryptocurrency. Bitcoin fell nearly 14% last week and briefly traded below $60,000, dragged down by Strategy's first bitcoin sale since 2022, the unwind in artificial-intelligence stocks and a record run of outflows from spot bitcoin exchange-traded funds. Many traders piled into shorts near the lows, then got caught w…

Bitcoin pump to $63,700 triggers the most short liquidations since late April

Coins in this story

Related stories

XRP steadies above $1.10 to bounce from four-month lows

A quick review of the Ways and Means tax bills: State of Crypto

Michael Saylor revives bitcoin-buy speculation as scrutiny over Strategy grows