Bitcoin and Altcoins Surge Past $76K After Massive Short Liquidations

Bitcoin surged past the $76,000 mark after $1.2 billion in short positions were liquidated within 24 hours.

Liquidation Storm Propels Price Spike

■$1.4 billion total short exposure, $1.2 billion wiped out in a single day

■156,211 traders caught in the cascade

■Largest single trade: $25.13 million Bitcoin purchase on Hyperliquid

■Prior day saw $3 billion in liquidations, two‑day total exceeds $4 billion

Altcoin Rally Mirrors Bitcoin’s Momentum

■Hyperliquid’s HYPE token up >4% to near $73, leading weekly gains at ~27%

■Ether gained ~5% to $2,350, up 24.5% over seven days

■Dogecoin rose ~9% to just over 8 cents, +17% weekly

■Solana climbed >5% to just under $90, also +17% weekly

■BNB up 6% to $660, +8% over the week

■Tron lagged, up 1.5% to just under $34 cents

Macro Backing: US Treasury Bond Buybacks Fuel Risk Appetite

■US Treasury doubled long‑end bond buybacks from $2 billion to $4 billion per operation

■Roughly $30 trillion Treasury market sees eased conditions, boosting risk‑on sentiment

■The liquidity boost set the stage for crypto assets to test higher price thresholds

Market Capitalisation and Outlook

■Bitcoin’s market cap now stands at $1.5 trillion, still about 40% below the October record peak

■Breaking the $66,600 resistance puts the $76,000 target within reach

■President Donald Trump urged Congress to advance the Digital Asset Market Clarity Act at a White House event, flanked by executives from Coinbase, Gemini, Ripple and Chainlink Labs

Markets will be watching closely to see whether the next leg of the rally is driven by genuine demand or continues to be powered by forced buying. While short‑covering can ignite a rapid price jump, a sustainable bull run will require solid institutional inflows and macro support. The Treasury’s aggressive bond buybacks could channel more risk capital into crypto, but volatility remains high, and traders should size positions prudently. – Cem Talu, Blockchain Researcher & Crypto Investor