---
title: "Broad Crypto Rally Decimates Shorts as BTC Tops $80,000, ZEC and HYPE Hit New Highs"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/298150594.md"
description: "The cryptocurrency market surged on September 7, with total capitalization exceeding $2.7 trillion. Bitcoin held above $80,000, driving altcoins ZEC and HYPE to new all-time highs. This rally triggered massive short liquidations totaling $231 million in the past 24 hours, with ZEC accounting for nearly $50 million. The event highlights a shift in volatility from Bitcoin to altcoins."
datetime: "2026-09-07T01:32:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/298150594.md)
  - [en](https://longbridge.com/en/news/298150594.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/298150594.md)
generator: "portal-rs"
---

# Broad Crypto Rally Decimates Shorts as BTC Tops $80,000, ZEC and HYPE Hit New Highs

TradingKey - Crypto Market Surges Broadly: BTC Holds Firm Above $80,000 as ZEC and HYPE Hit All-Time Highs to Lead Altcoin Rally.

On September 7, the cryptocurrency market saw another strong broad-based rally, with total market capitalization surpassing $2.7 trillion, approaching the high of May this year. Among them, Bitcoin (BTC) strongly stood above the $80,000 mark, while driving the leading decentralized perpetual contract token HYPE (HYPE) and flagship privacy coin ZEC (ZEC) to repeatedly hit new all-time highs, sparking massive short liquidations in the derivatives market. 

In the past 24 hours, over 70,000 traders were liquidated in the crypto market, with total liquidations reaching $231 million and short liquidations approaching $150 million. Notably, the token with the largest liquidation was not BTC, but ZEC, at nearly $50 million, followed by ETH, reflecting that market volatility is shifting from BTC to altcoins.

Crypto market liquidation data, Source: CoinGlass

This morning, the price of HYPE approached $90, with its market cap surpassing $22 billion; ZEC likewise surged to new highs, briefly breaking above $1,200 with its market cap exceeding $21 billion. Currently, HYPE and ZEC rank ninth and tenth, respectively, on the cryptocurrency market cap leaderboard.

ZEC price chart, Source: TradingView

Find out more

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**