Bearish crypto bets lose record $2.7 billion as bitcoin surges toward $70,000
CoinDesk1h agoUpdated 19m ago

Smart Read
Traders betting against crypto lost $2.74 billion in a day, more than the short side of the October 2025 crash that remains the biggest liquidation event in the market's history.
Coins in this story
Discussion
Related stories

CoinDesk
Ether jumps 18% to $2,250 as bitcoin tops $69,000 in broad crypto rally
Every major except tron posted double-digit weekly gains, with nearly $1.4 billion of short positions wiped out after the Treasury doubled its bond buybacks.

CryptoSlate
Bitcoin treasury Hyperscale sells 686 BTC to clear loans but says cash won’t cover next 12 months
The August repayment ended the immediate collateral risk while the company’s going-concern warning and Michigan financing need persisted. The post Bitcoin treasury Hyperscale sells 686 BTC to clear loans but says cash won’t cover next 12 months appeared first on CryptoSlate.

CoinDesk
Bitcoin briefly hits $70,000 for the first time since June. Here is why
The largest crypto asset rose more than 7% on Wednesday after several catalysts sent crypto-related assets higher.
KryptoKite aggregates and summarises third-party crypto news. This is informational content, not investment advice. KryptoKite does not recommend buying or selling any asset.