Cryptocurrency markets saw their biggest short position liquidation day in history on Wednesday, with over $1 billion in shorts liquidated over the space of a few hours.

Notable Statistics:

• Coinglass data shows 126,017 traders were liquidated in the past 24 hours for $1.92 billion.       

• SoSoValue data shows net inflows of $189.3 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $71.5 million.

• In the past 24 hours, top gainers include Bitway, Pump.fun and MemeCore.

Notable Developments:

• Bitcoin, Ethereum, XRP Explode Over 6% Higher: Treasury's Move Will Send 'Inflation Soaring,' Peter Schiff Warns

• BTC Cracks $68,000 and You May Want to Look at Kalshi to Predict Bitcoin's Next Move Before Binance Does

• Strategy, Bitmine, Coinbase Surge Over 12% as CLARITY Act Optimism Builds

• Cameron Winklevoss Calls Bitcoin at $65,000 an 'Unprecedented' Buy: Does the Data Agree?

• XRP Open Interest Hits 2-Month High: Is That Bullish?

• Bitcoin Volatility Craters to 27% as VanEck Flags 8 Of 12 Capitulation Signals Firing

• CLARITY Act Has a 'Really Good Shot' to Pass in September, Tim Scott Says

• Bitcoin ETFs See $486M Inflows in 2 Days: Could This Be the Best Week Since January?

Trader Notes:

Trader Michael van de Poppe said Bitcoin's surge to $69,000 wiped out shorts and cleared liquidity above $68,200.

He expects a pullback rather than an immediate continuation, viewing $66,500–$67,000 as a buying zone before a potential move toward $72,000–$73,500.

Trader KillaXBT compared Bitcoin's current 2026 structure with its 2022 bottom, suggesting a pullback from $68,000–$70,000 could still hold above previous lows.

However, the pattern would require BTC to re-enter the range and show clear 4-hour/daily exhaustion; failure to do so would invalidate the fractal.

Image: Shutterstock

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This article Bitcoin Hits $69,000, Ethereum Goes on 20% Bull Rampage, XRP, SOL Pump 10% on Historic Crypto Day originally appeared on Benzinga.com

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