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Hot moment: Bitcoin takes off and breaks through $69,000-massive liquidation is happening-the latest

2026-08-20 00:36:40
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Bitcoin (BTC) rose sharply today, touching US$69,500 at one point. This sudden market volatility caught investors off guard, especially those holding short positions, with leveraged positions liquidated as much as $1.21 billion in the past hour.

According to liquidation data, in the past hour of liquidation, short positions accounted for US$1.13 billion and long positions accounted for US$78.62 million. As a result, approximately 93% of liquidations come from investors who expect a decline in the price of Bitcoin and other cryptocurrencies.

According to TradingView data, the BTC/USDT trading pair of Bindian fluctuated around US$64,000 to US$65,000 before rising, and then quickly pulled up. After approaching $69,500, Bitcoin fell slightly, trading at approximately $68,500 as of writing. Currently, the price of Bitcoin has increased by more than 5% in the past 24 hours.

A chart showing the increase in BTC prices.

Altcoins follow Bitcoin's rise. Ethereum (ETH) broke through the US$2,000 mark, reaching that level for the first time since June 2. Solana (SOL) has also returned to the $80 level.

Liquidation data showed that the rally has turned into a widespread short squeeze and was not limited to the past hour. In the past hour,$1.21 billion was liquidated, including $1.13 billion in short positions and $78.62 million in long positions. In the past four hours, the total liquidation amount reached US$1.36 billion, including US$1.25 billion in short positions and US$112.37 million in long positions.

In the past 12 hours, of the $1.41 billion liquidation, short positions accounted for $1.28 billion and long positions accounted for $131.1 million. Looking at the past 24 hours, the total liquidation amount reached US$1.46 billion, including US$1.30 billion for short positions and US$164.72 million for long positions.

* This is not investment advice.

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