Bitcoin Suddenly Surges 5%, Shorts Getting Clobbered

News By Alex Dovbnya Mon, 2/03/2026 - 16:28 Bitcoin (BTC) staged a powerful recovery, reclaiming the $69,000 level and triggering a massive $80 million short liquidation event. Advertisement Bitcoin Suddenly Surges 5%, Shorts Getting Clobbered

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Is the bottom finally in?
MSTR rally

The price of Bitcoin, the leading cryptocurrency, surged sharply higher on Monday, reaching an intraday peak of $69,401.

According to data provided by CoinGecko, roughly $80 million worth of shorts has been liquidated in mere minutes.

The Bybit exchange accounts for the biggest share of the liquidations (roughly 20%).

The cryptocurrency is now approaching the upper boundary of the current range.

Bitcoin’s previous several attempts to reclaim the $70,000 level ended up failing.

Is the bottom finally in?

Fundstrat’s Tom Lee recently went live on CNBC, predicting that crypto is currently in the final stages of setting a bottom. He expects the sector to rally in April.

MSTR rally

The shares of Strategy (MSTR) also have experienced a substantial rally, surging by more than $139.

As reported by U.Today, Strategy recently purchased an additional $204 million worth of Bitcoin (BTC).

#Bitcoin Price Prediction

Is the bottom finally in?
MSTR rally

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