Bitcoin, Ether Shorts Liquidated in Squeeze-Led Rally
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- Bitcoin and Ether short sellers faced mass liquidations in a "squeeze-led" rally as US Treasury intervention and regulatory developments converged, with Bitcoin reaching an 11-week high of $70K and $1.14 billion in shorts wiped out.
- Musk's X announced plans to pay creators in stablecoins as banks and technology companies expanded deeper into the stablecoin sector alongside the broader crypto rally.
Why it matters: The combination of a US Treasury debt buyback and a historic short squeeze created a one-two punch that liquidated $1.14 billion in leveraged bearish positions — a level of forced buying that marked the strongest crypto rally in months and signaled that institutional and policy winds were aligning simultaneously against the shorts.
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