Bears got it wrong again.
Bitcoin briefly tagged $80,594 early Monday, its highest print since Jan. 31, before pulling back to trade around $79,851 at the time of writing. The move triggered $370 million in total crypto liquidations over the past 24 hours, affecting 97,235 traders, according to CoinGlass data. Of that total, $301.93 million came from short positions.
Shorts were liquidated roughly four times as much as longs, indicating that bearish positioning was dominant going into the move. They were caught offside as the rally forced them to unwind positions at a loss.
Bitcoin alone accounted for $179 million of the wipeout, with ether traders contributing $95 million. The single-largest liquidation was an $11.77 million…
