The post Bitcoin’s $77K rally leaves bears bleeding with $585M shorts wiped appeared on BitcoinEthereumNews.com.

Bitcoin’s fresh rally is raising a strange contradiction in the market. It is printing green indexes while sentiment refuses to follow. BTC managed to breach the $77,000 for the first time in 11 weeks, but bears’ bets dominated the liquidations. The global crypto market cap surged by almost 3% over the last 24 hours. It currently hovers around $2.61 trillion. The digital assets market’s 24-hour trading volume spiked by 12% to hit $172 billion. This suggests that traders are speeding up their positions.  CoinGlass data shows that more than 164,835 traders were liquidated in the last 24 hours. The total liquidations went on to hit $747.81 million. However, the largest single wipeout came from a BTC/USD trade worth $15.75 million on Hyperliquid. Bitcoin rally triggers Short Squeeze? Bears were seen bleeding as more than 78% of the liquidated positions turned out to be short bets. More than $585 million worth of short bets were liquidated in the period. Data shows that Bitcoin itself accounted for around $378 million of the total liquidations. Over 91% of the liquidated positions ($344 million) turned out to be short bets. This suggests that traders were hoping for Bitcoin price to remain low or fall, however, BTC price jumped by more than 3% in the last 24 hours to peek $78,000. Bitcoin liquidation data (Source: Coinglass) Yet even as bears bleed, conviction hasn’t flipped. Funding rates for perpetual futures remain negative. This signals that leveraged traders are still betting against the rally. This bearish positioning has now persisted for roughly 46 consecutive days. This is reportedly one of the longest such stretches since the collapse of FTX in 2022. Markets have already started to show signs of those squeeze patterns. Bitcoin price pump came alongside a broader risk-on shift across global markets. Positive comments from…

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Filed under: News - @ April 18, 2026 1:26 am