CoinDesk
DOGE jumped more than 15% to just above 10 cents during Asian morning trading, leading major cryptocurrencies. Bitcoin held above $85,600 after gaining roughly 5% over 24 hours, while XRP rose 7%, SOL added 5% and Ether gained 3%.
More than $1 billion in crypto positions were liquidated over the past day, including $844 million in short positions, or 82% of the total. Roughly 135,000 traders were closed out. Bitcoin accounted for about $608 million of the liquidations and Ether for $181 million, while the largest single liquidation was a nearly $21 million Bitcoin position on Hyperliquid.
Why it matters
The liquidation wave amplified the rebound by forcing exchanges to buy assets as leveraged short positions breached collateral thresholds. That feedback loop pushed prices higher and triggered additional liquidations, but it has now largely cooled. Liquidations in the latest hour fell below $11 million from more than $300 million at the move’s peak.
The shift leaves the market at a more important test. With forced buying fading, further gains require discretionary buyers to keep adding exposure rather than relying on short sellers to provide demand.
Market impact
The broader risk tone was also supported by a rally in Asian equities and chipmakers as enthusiasm around artificial intelligence returned. South Korea’s Kospi rose 2%, Taiwan’s benchmark reached an intraday record, and AMD briefly topped a $1 trillion market value after a sharp advance.
For crypto traders, DOGE’s leadership shows where the squeeze was most visible, while Bitcoin’s ability to hold above $85,600 will be central to whether the rebound develops beyond liquidation-driven momentum.
Frequently asked questions
-
How much did Dogecoin rise during the crypto rebound?
DOGE jumped more than 15% to just above 10 cents, making it the strongest gainer among major cryptocurrencies in the move.
-
How large were the crypto liquidations?
More than $1 billion in crypto positions were liquidated over the past day. Short positions accounted for $844 million, or 82% of the total.
-
Why did short liquidations push crypto prices higher?
When rising prices breach collateral thresholds, exchanges buy assets back to close losing short positions. That forced buying can lift prices and trigger more liquidations.
-
Has the short squeeze continued at the same pace?
No. Liquidations in the latest hour fell below $11 million, down from more than $300 million at the peak of Monday’s move.
-
What will determine whether the crypto rebound continues?
Further gains now depend on discretionary buyers adding exposure because forced buying from short liquidations has largely cooled. Bitcoin’s ability to hold above $85,600 is a key market test.
Lookonchain
WatcherGuru
Crypto Capital Venture
CoinTelegraph
TheBlock
Crypto News