First reported by news.bitcoin.com
Bitcoin Reclaims $63K as ETF Inflows Return and a Short Squeeze Clears the Bears
Bitcoin nears $62,000 as short squeeze liquidates $281M in bearish bets; ether, solana lead weekly gains
By
Shaurya Malwa
4d ago· 2 min readenNews
Summary
Bitcoin pushed toward $62,000 as a short squeeze liquidated $281 million in bearish positions, leading the crypto market's strongest week since mid-June. Ether rose 9.7% on the week to ~$1,702, while solana led majors with an 18.6% weekly gain near $80. XRP added 5.7% and Hyperliquid's HYPE rose 5.1%. A rebound in tech stocks also helped ease pressure from the AI trade.
Source
bskyBitcoin nears $62,000 as short squeeze liquidates $281M in bearish bets; ether, solana lead weekly gainscoindesk.comKey quotes
· 3 pulledEther and solana led crypto higher on Friday as a squeeze on bearish traders pushed bitcoin toward $62,000, capping the market's first genuinely strong week since mid June.
Traders betting against crypto lost $281 million to liquidations over the past 24 hours, against $159 million in long liquidations.
Solana held near $80 with a weekly gain of 18.6%, the strongest among the majors.
Bearish traders lost $281 million in liquidations over 24 hours, nearly double the longs, as bitcoin pushed to its strongest level in two weeks. Ether is up almost 10% on the week and solana nearly 19% while a rebound in tech stocks eased the pressure fro
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