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Home/Briefs/cryptocurrency

BriefApril 10, 2026 · 08:12 AM

Short Liquidations Drive Crypto Market Cap Above $2.5 Trillion

Bitcoin touched $73,000 as the global crypto market cap rose 1.4% to $2.52 trillion. This rally was fueled by the forced buy-backs of assets by short sellers who were caught off guard by a sudden uptick in prices. Data from CoinGlass shows that over $250 million in short positions were liquidated in the past 24 hours, compared to $95 million in long positions. The price movement began after reports that Iran was considering accepting Bitcoin for oil cargo ships crossing the Strait of Hormuz.

Marcus Weston

cryptocurrencymarket volatilityshort squeeze

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