Bitcoin Hits 6-Week High as Short Liquidations Surge

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BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Bitcoin climbed to a six-week high near $74,400 during early Asian trading on Monday, marking a strong relief rally in the crypto market.

The move triggered over $300 million in short liquidations, forcing bearish traders out of positions as momentum accelerated. Within just 30 minutes, BTC surged roughly $1,800, highlighting renewed buying pressure.

The broader market followed Bitcoin’s lead, pushing total crypto market capitalization to around $2.49 trillion.

[chainsniff]

bro if i had $1 for every time i got rekt on shorts… i could buy a lambo… or like 0.001 btc lol