Bitcoin (BTC) is trading above $77,000 at press time on Thursday, easing downside pressure amid the wipeout of $180 million in crypto shorts over the last 24 hours. In the same period, Hyperliquid (HYPE), Dash (DASH), and Zcash (ZEC) led the broader market rally on intense Exchange Traded Fund (ETF) inflows and renewed demand for privacy coins.

Mild recovery in Bitcoin eases broader market stress

Bitcoin trades above $77,000 on Thursday, extending gains from the previous day. The near-term recovery with a rebound from its 50-day Exponential Moving Average (EMA) suggests a reversal to its 200-day EMA around $82,000. Typically, altcoins mimic Bitcoin’s recovery following a pullback. 

CoinGlass data shows $262 million in total liquidations…