Bitcoin Surges Past $75,000 Amid Record $3 Billion Short Liquidations

Bitcoin's breakout above $75,000 marks a decisive end to weeks of consolidation and has reset market sentiment from cautious to aggressively bullish. The catalyst appears to be the U.S.

Treasury's decision to at least double its bond-buyback operations, which eased long-term yields and reduced pressure on risk assets.

This policy tweak, while not traditional QE, effectively injected liquidity expectations into the system at a time when speculative short interest in crypto had reached extreme levels.

Over the past 24 hours, more than $2.7 billion in short positions were forcibly closed, with shorts comprising over 90% of total liquidations across exchanges. Open interest climbed sharply as new long positions piled in, particularly in BTC and ETH futures.

Ethereum benefited as well, posting double-digit weekly gains and attracting hundreds of millions in ETF flows alongside Bitcoin.

Major altcoins including XRP, SOL, and even smaller names like Zcash saw outsized moves, though dominance metrics suggest this remains primarily a Bitcoin-led rally rather than a broad altseason.

For traders, the immediate watchpoints are whether BTC can sustain above $75k-$77k resistance and whether fresh long liquidations appear if yields reverse. ETF inflow data, daily funding rates, and any follow-through comments from Treasury or Fed officials on liquidity will be key.

The event underscores how sensitive crypto remains to macro liquidity signals and highlights the risk of violent squeezes when positioning becomes one-sided.

Institutional players and retail leveraged traders alike should monitor open interest and basis levels closely for signs of exhaustion or continuation into the $80k zone.