Bitcoin Reclaims $73,000 as $463 Million in Short Liquidations Fuel Crypto Rally

Bitcoin climbed back above $73,000 in the past 24 hours, trading around $73,770 with an 8% gain as approximately $463.56 million in short positions were liquidated versus $79.9 million in longs, Coinglass and TradingView data show. The sharp move coincided with forced closures in derivatives markets, pointing to a short squeeze as exchanges automatically unwound leveraged bearish bets. Major altcoins advanced in tandem, with Ethereum up 9.66% near $2,173, Solana gaining 8.94% around $92.69, XRP rising 7.23% near $1.46, and Dogecoin jumping 15.06%.