Bitcoin Rebounds to $69K, Triggers $400M Short Liquidations

TheNewsCryptoPublished on 2026-02-26Last updated on 2026-02-26

Abstract

Bitcoin rebounded to nearly $69,000 on February 25, marking its first return to that level in over a week. The cryptocurrency surged over 7% in a single day after dipping to $63,000 just a day earlier. Despite the recovery, Bitcoin remains down more than 21% over the past month. This price movement triggered significant liquidations in the derivatives market, totaling $463 million in 24 hours. Over $400 million of that came from short positions, with Bitcoin alone accounting for around $200 million in short liquidations. Ethereum and Solana followed with $153 million and $22 million, respectively. Ethereum saw a 12% gain, reaching $2,075, while Solana dropped nearly 14% to below $89. Other major cryptocurrencies like Polkadot, Filecoin, and Avalanche also posted double-digit gains. The broader crypto market rose 6.6%, and crypto-related equities climbed as risk appetite improved.

Bitcoin has rebounded toward $69,000 on February 25 for the first time in more than a week, trading after going as high as $69,869 after going as low as $63,000 on February 24. The rebound shows a gain of over 7% on the day; however, Bitcoin remains down more than 21% over the past 30 days.

The price recovery acted as a threshold to the wave of liquidations over the derivatives market. Over $400 million in short positions were drained in the 24-hour period, accounting for the majority of the $463 million in total liquidations listed in that span, according to CoinGlass data.

Liquidations initiated by Bitcoin with around $200 million in shorts forced out, after which Ethereum stood at $153 million. Solana was placed third with around $22 million in short liquidations. Ethereum surged around 12% on the day to a latest price of $2,075, while Solana plunged around 14% to just below $89.

Among the wider top 10 coins by market cap, Ethereum and Solana posted the biggest percentage gains.

The Double-Digit Gains

Other double-digit movers over the 24-hour period comprised Polkadot (DOT), Filecoin (FIL), Uniswap (UNI), Aptos (APT), Avalanche (AVAX) and Chainlink (LINK), with the total crypto market gaining around 6.6% in 24 hours.

Crypto-associated equities also increased on Feb 25 as risk appetite got better. USDC stablecoin issuer Circle rose 29% to $79 per share after an earnings report. Blockchain lender Figure accumulated 15% to $34 per share, and Ethereum treasury company BitMine Immersion Technologies surged around 14% to $22.

Coinbase progressed 13% to $183 per share, and Bitcoin treasury company Strategy generated around 9% to above $135 per share. Bitcoin miner MARA Holdings generated 7% to $8.66.

The short squeeze came against a backdrop of a wider market recovery, with traders who had bet against crypto prices since the 30-day fall facing forced exits as prices moved against their positions.

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