News Author: Crypto Emergency
The cryptocurrency market has shown a powerful recovery: Bitcoin confidently rose above $69,000, and altcoins showed double-digit growth. Amid the sharp upward movement, hundreds of millions of dollars in short positions were liquidated, which strengthened the rally's momentum.
Mass liquidations: over $525 million in a day
In the last 24 hours, positions worth $525.69 million have been liquidated, of which $472.73 million were shorts. This has been one of the largest single-day liquidation spikes in recent weeks.
Market dynamics: BTC, ETH, and altcoins
• Bitcoin (BTC) rose by 7.22%, reaching $69,164, market capitalization — $1.38 trillion.
• Ethereum (ETH) rose by 11.63% to $2,072.
• Solana (SOL) +13.55% → $88.88
• Cardano (ADA) +14.11% → $0.2983
• Dogecoin (DOGE) +12.58% → $0.1036
• XRP and BNB also demonstrate strong growth.
What caused the rise
Co-founder of Orbit Markets Caroline Moron notes that the market has formed a local bottom after a prolonged wave of selling. According to her, Bitcoin holding above $70,000 could be a key signal for a shift in market sentiment towards a sustainable bullish trend.
Additional factors:
• A calm address by Donald Trump to Congress, which reduced tensions in the markets.
• Anticipation of Nvidia's report, whose results are considered an indicator of activity in the artificial intelligence sector and may influence risk appetite.
• A recovery rally after a decline caused by the US Supreme Court's decision to overturn part of Trump's tariffs and the subsequent announcement of a global tariff of 15%.
What’s next
If Bitcoin holds above $70,000, the market may enter a phase of sustainable growth. However, high volatility and large liquidations indicate that the battle between bulls and bears is far from over.