Bitcoin Climbs Above $67,000 as $198M in Shorts Get Wiped

The move has accelerated, and the derivatives data shows what is driving it: trapped shorts, not fresh conviction buying.

Liquidations Skew Heavily Short

According to Coinglass, Bitcoin saw $213.54 million in total liquidations over the past 24 hours, and $198.17 million of that, roughly 93%, was short positions forced to close. The skew holds across every timeframe: shorts made up $63.87 million of the $67.58 million liquidated in the past four hours, and $83.57 million of the $89.64 million over 12 hours. The pattern is unambiguous. Traders positioned for further downside were caught by the deal-driven bounce and forced to buy back, and that forced buying is a meaningful part of what pushed price higher.

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