Bitcoin rebounded sharply over the past 12 hours, briefly rising to nearly $78,900, while Ether recovered to above $2,290. Data from CoinGlass showed that 83,891 traders were liquidated across the crypto market in the last 24 hours, with total liquidations reaching $300.8 million. The largest single liquidation was a $10.57 million BTCUSDT order on Binance.
Bitcoin climbs back toward the $79,000 level
After several days of market volatility and downside pressure, crypto prices turned higher ahead of the weekend. Bitcoin led the move. Over the past 24 hours, BTC gained about 2.2% to 2.5%, rising from a low near $76,300 and accelerating later in the session to reach the $78,800 to $78,900 range.
At the time described in the source material, Bitcoin was holding above $78,300 and had moved past a recent resistance area. Its 24-hour trading volume also expanded to more than $30 billion. The source attributed the rebound to institutional inflows and upbeat sentiment in traditional equity markets, with the move taking shape from the evening of May 1 into the early hours of May 2.
Ether follows with a milder recovery
Ether's move was less aggressive but still positive. ETH rose about 1.3% to 1.8% over 24 hours, recovering from around $2,250 to the $2,290 to $2,300 zone. Its intraday high came in near $2,320. Compared with Bitcoin, Ether posted a steadier climb rather than a sharp burst, but it remained aligned with the broader market rebound.
Short positions take the hit as liquidations surge
The price recovery triggered heavy pressure on short positions. CoinGlass data showed total crypto liquidations of $300.8 million over the last 24 hours, affecting 83,891 traders worldwide. The figures in the source pointed to major losses on the short side during the move.
The biggest single liquidation was recorded on Binance in the BTCUSDT pair, where one short position worth $10.57 million was wiped out. As Bitcoin pushed back toward the $79,000 mark, volatility in leveraged derivatives positions intensified at the same time.