Bitcoin price surge tops $77K after $1.5B short squeeze
Bitcoin just posted one of its sharpest rebounds of the year, and the numbers explain why traders are paying attention. The token climbed 7.9% over 24 hours to trade around $77,137, briefly touching an intraday high of $79,320, according to data cited by Decrypt. That kind of one-day move would be notable on its own, but this Bitcoin price surge arrived alongside a wave of forced short-position closures and a fresh round of regulatory signals out of Washington, making it a story with more moving parts than a simple price bounce.
Key takeaways
- Bitcoin rose 7.9% in 24 hours to around $77,137, up 23.2% on the week, but still down about 31.8% from a year ago.
- President Donald Trump backed the crypto market-structure Clarity Act at a White House meeting and signaled regulators were working to bring Hyperliquid onshore.
- Roughly $1.5 billion in crypto positions were liquidated across 178,777 traders in 24 hours, with short positions accounting for about $1.21 billion.
- The single largest liquidation was a $23.59 million Bitcoin position wiped out on Hyperliquid.
- HYPE, Hyperliquid’s native token, jumped roughly 17% after Trump discussed a compliant U.S. path for the exchange.
Bitcoin’s Sharp Price Rally and Market Performance
Bitcoin’s latest jump pushed it up 23.2% for the week, marking one of its strongest short-term stretches in months. The rally still leaves the token roughly 31.8% below where it stood a year earlier, a reminder that even a sharp weekly gain doesn’t erase a longer stretch of weakness.
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