Bitcoin surge liquidates $276M shorts, eyes possible short squeeze above $72.5K

Bitcoin taps $69,550, up 3.3%. Derivatives feel the hit. Over $276M liquidated in a day.

West Texas Intermediate hits $115 a barrel. See the move on OilPrice charts. Energy tension rises.

Bitcoin briefly reached $69,550. That pop ran through leverage. CoinGlass shows $276M in 24h liquidations across venues data.

Shorts took most of the damage. In the 12 hours around the spike, $188M of $210M liquidations were shorts CoinGlass. Longs lost $24M CoinGlass. About 80,200 traders were hit CoinGlass.

The chart is still below peak. BTC’s all‑time high was $126,000 on Oct 6, 2025. Current price sits about 45% under that level holder.io BTC.

Positioning skews to the upside risk. Over $6B in shorts are stacked near $72,500. A move there could force rapid covers CoinGlass. On the downside, roughly $2B in longs sit around $65,000 CoinGlass.

Macro pressure builds. A standoff at the Strait of Hormuz tightens supply. Iran rejected ceasefire terms tied to reopening the route Al Jazeera live. The White House urged Tehran to reopen the waterway, citing trade risks The Guardian live.

Headline: Bitcoin hits $69,550; $276M liquidated as $6B shorts sit at $72.5K