Bitcoin Rebounds to $81K as Short Liquidations Surge

Bitcoin rebounded to about $81,000 after falling to a seven-week low of $75,600 following the US midterm elections. Earlier data put BTC near $80,510, up 4.2% in 24 hours. The sharp Bitcoin rally triggered a market-wide short squeeze, although liquidation totals vary between reports. CoinGlass data in the later report showed $380 million in short positions and $90 million in long positions liquidated in one hour. The earlier report put one-hour total liquidations at $465 million, including $377 million in shorts. Over 24 hours, more than $910 million to $915 million in positions were liquidated across roughly 117,000 traders. Bitcoin liquidations reached $229 million in the earlier report, with shorts making up 96.4%; Ethereum liquidations totaled $170 million. The later report said ETH rose more than 6% to $2,440 and XRP moved above $1.30. The largest reported liquidation was a $38 million ETH/USDT position on HTX. US stocks also rallied as trading began, with the S&P 500 up nearly 2% and the Nasdaq and Dow Jones gaining more than 2%. The Bitcoin rebound and heavy short liquidations signal a rapid shift in leveraged positioning, but elevated volatility could persist as traders adjust exposure.