---
title: "Bitcoin rally wipes out $2.7B in short positions in 24 hours"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296444624.md"
description: "Bitcoin surged toward $70,000, triggering a massive short squeeze that wiped out nearly $2.7 billion in short positions within 24 hours. This event marks the largest wave of forced short liquidations since records began in 2021. Total crypto liquidations reached approximately $3 billion across over 170,000 traders, with shorts accounting for 92% of the losses. Bitcoin rose nearly 8%, while other major cryptocurrencies like Ethereum, Solana, and Ripple also posted significant gains."
datetime: "2026-08-20T06:31:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296444624.md)
  - [en](https://longbridge.com/en/news/296444624.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296444624.md)
---

# Bitcoin rally wipes out $2.7B in short positions in 24 hours


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