Bitcoin climbed from a 24-hour low of $78,922 to an intraday high of $82,048, marking a 2.42% gain over the period. XRP outperformed the major tokens, breaking above $1.54 and setting a fresh 14-day high. CoinGlass data showed that 85,427 traders were liquidated across the market in the last 24 hours, with total liquidations reaching $257.39 million. Short positions made up the larger share of the damage.
Bitcoin moves close to recent peak as ETH and SOL also advance
At 09:04 Taiwan time cited in the report, Bitcoin was trading at $81,572, with a 24-hour range between $78,922 and $82,048. That left it less than $500 below the $82,496 peak recorded on May 6. ETH changed hands at $2,293, up 1.13% over 24 hours, after reaching $2,319 during the session. SOL traded at $92.47, up 1.29%.
Institutional positioning also drew attention. The report said Jane Street’s latest 13-F filing showed a 71% reduction in its IBIT holdings in the first quarter, while the firm increased its ETH ETF exposure by about $82 million. The shift was seen as a sign that some institutional capital was rotating between Bitcoin and Ethereum products.
Short liquidations reached 2.3 times long liquidations over 12 hours
The liquidation breakdown points to a clear short squeeze. Over the past 24 hours, long liquidations totaled $105.04 million, or 40.8% of the market total. Short liquidations came in at $152.35 million, or 59.2%. Looking only at the last 12 hours, short liquidations hit $124.09 million, compared with $53.10 million for longs, a ratio of 2.3 times.
The single largest liquidation was a $2.93 million position on Hyperliquid’s XYZ:COIN-USD contract. Just one day earlier, selling tied to CPI-driven market stress had pushed Bitcoin down to $78,754, while total market liquidations rose to $371 million. Prices recovered sharply within the next 24 hours.
Warsh confirmation, stock market records and policy news lift risk appetite
The report linked the rebound to several macro and regulatory developments arriving at once. Kevin Warsh was confirmed by the Senate in a 54-45 vote and is set to take over as Fed chair on May 15, the day Powell’s term ends. J.P. Morgan said AI-driven productivity gains could give the Fed more room to cut rates, softening the market’s earlier view that Warsh would be firmly hawkish.
Warsh’s personal financial disclosure also showed more than $100 million in crypto-related investments, covering more than 20 blockchain entities including Bitwise, dYdX and Compound. In equities, the S&P 500 rose 0.6% to a record high on May 14, while the Nasdaq gained 1.2% and also reached a new high. On the regulatory side, the U.S. Clarity Act cleared the Senate Banking Committee on May 14 by a 15-9 vote. The bill would define how oversight of digital assets is divided between the SEC and CFTC before moving to a full Senate vote.
XRP leads major tokens, but sentiment remains in fear territory
XRP was the strongest large-cap token in the move. It rose 4.40% over 24 hours, touched an intraday high of $1.5496, and recorded a 14-day high of $1.5371 at 03:01 on May 15. The report listed its latest price at $1.4963.
Sentiment, though, has not fully turned with price action. The Crypto Fear & Greed Index rebounded to 43 from 34 a day earlier, but it remained in the Fear zone. The market has seen a forceful short squeeze and a quick rebound, yet the sentiment reading shows traders have not broadly shifted to optimism.