Bitcoin briefly climbed above $71,000, while Ether rose toward $2,100 during the same move. The rally did not fully hold. At the time cited in the source, Bitcoin had pulled back to $70,060, showing how quickly momentum gave way to volatility.
Bitcoin cleared $71,000 before easing back
According to public market data and figures cited from OKX, Bitcoin (BTC) pushed through the $71,000 level in short-term trading. Ether (ETH) moved higher as well and at one point came close to $2,100. The sharp move up, followed by a retreat, pointed to an active battle between long and short positions over a very short window.
$243 million liquidated across the market in one day
The price swing quickly spilled into derivatives trading. Data from CoinGlass showed that in the past 24 hours, 101,136 traders were liquidated globally, with total liquidations reaching $243 million. Fast price acceleration and abrupt reversals left leveraged positions exposed, especially in short-term contracts.
Largest single liquidation hit $3.13 million on Hyperliquid
Among the recorded liquidations, the largest single order took place on decentralized derivatives exchange Hyperliquid, where one position was liquidated for $3.13 million. The figures show that even as spot prices strengthened, pressure in the derivatives market remained high and trading conditions stayed unstable.