Crypto Bears Wiped Out as Bitcoin Rips Past $93K
Short sellers got wrecked as bitcoin exploded to $93.5K, liquidating more than $530M in bearish bets. A mix of trade talk optimism and macro tailwinds fueled the rally, with altcoins tagging along for the ride — ETH, DOGE, and SUI all posted double-digit gains.
Exchanges like Bybit and Binance saw the biggest liquidation waves, including a massive $4.5M ETH position. Memecoins even joined the party, with MOG shooting up 30% as traders chased momentum.
Trump’s softer stance on China tariffs sparked the move, and with rate cuts now back on the table, crypto could be gearing up for a bigger breakout. For now, traders are watching closely to see if this is just a spike — or the start of something more.
