People who bet that Bitcoin’s price would fall are now losing money as the price surges past $80,000. This is happening across the crypto market as a whole.
Over the past 24 hours, crypto traders lost $375.02 million in leveraged positions, according to data from CoinGlass.
The vast majority of the liquidations hit traders going short, coming in at $304.96 million.
Bitcoin saw the largest losses, with $160.8 million worth of trades closed due to market volatility, most of which were bets that the price would go down. Ethereum experienced similar losses of $84.7 million, also largely from losing short positions.
Over 98,000 traders were forced out.
Bitcoin is now trading at $80,416, up nearly 3% in the last 24 hours.
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2026-05-04 10:21