Bitcoin Surges Past $63,000 as Short Squeeze Clears $281 Million in Bearish Bets

Bitcoin reclaimed the $63,000 mark for the first time in two weeks, climbing as high as $63,832, as a wave of short liquidations and returning U.S. spot ETF inflows reversed much of the market's late-June downturn. News.Bitcoin.com reported that the largest cryptocurrency pushed above $63,000 early Monday, with trading reaching $63,835 at the session's peak.

news.bitcoin.comBitcoin Reclaims $63K as ETF Inflows Return and a Short Squeeze Clears the Bears

"a squeeze on bearish traders reversed most of the market's late-June damage"

The move was driven by a violent short squeeze, with CoinDesk reporting that $281 million in bearish positions were liquidated, giving crypto its strongest week since mid-June. Ether rose 9.7% to around $1,702, while solana led majors with an 18.6% weekly gain near $80. XRP added 5.7%, and Hyperliquid's HYPE token gained 5.1%.

"short squeeze liquidated $281 million in bearish bets"

Despite the weekend rally, Cointelegraph cautioned that Bitcoin's price action has historically suffered on Mondays, with a trader warning that the day's track record has been "absolutely terrible." The note served as a reminder that the rebound may face resistance as the trading week opens.

CointelegraphBitcoin nears $63.5K into weekly close as trader warns of 'terrible' Monday

A rebound in tech stocks also helped ease pressure from the AI trade, according to CoinDesk, supporting the broader risk-on sentiment that lifted cryptocurrencies. The return of spot Bitcoin ETF inflows, as highlighted by News.Bitcoin.com, added further momentum, suggesting institutional demand is recovering after a sluggish period.