Bitcoin price news: BTC hits $67,000; ETH, DOGE, SOL lead amid crypto short squeeze
Bitcoin rebounded to $67,500, sparking a relief rally across altcoins like Ether and Solana, driven by the unwinding of crowded bearish bets.Summary
Bitcoin bounced back to $67,500, gaining over 5% in 24 hours as deeply bearish positioning in the crypto market began to unwind, triggering a broader relief rally. Altcoins such as Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) surged more than 10%, outperforming BTC. This rebound followed a period of extreme negative sentiment, evidenced by the Crypto Fear & Greed Index hovering in 'Extreme Fear' and negative perpetual funding rates, which indicated crowded short positions ripe for a squeeze, leading to over $307 million in leveraged bearish bets being liquidated.
Crypto-related stocks also advanced, with Circle (CRCL) jumping 20% after an earnings beat, and Coinbase (COIN) and MicroStrategy (MSTR) gaining ground. This rally occurred against a favorable backdrop in traditional markets, with the S&P 500 and Nasdaq 100 also rising. Furthermore, signs of renewed U.S. buyer interest emerged, as the Coinbase Premium Index turned positive for the first time in over 40 days, and U.S. spot bitcoin ETFs recorded their largest daily inflow since early February.
(Source：CoinDesk)