Bitcoin’s jump to $69,000 causes $580 million liquidation frenzy in the crypto market.
February 26, 2026
Bitcoin’s recent surge to $69,000 has caused quite a stir in the cryptocurrency market, triggering a liquidation frenzy of around $580 million, with almost $470 million coming from short positions being closed out. This unexpected spike in Bitcoin’s price resulted in significant losses for leveraged traders, forcing them to unwind their positions in a hurry.
The overall cryptocurrency market experienced a 5% rally, with the total market cap reaching over $2.44 trillion. Cardano (ADA) emerged as one of the top performers among major cryptocurrencies, recording double-digit gains of over 11% within 24 hours. Retail sentiment on platforms like Stocktwits showed a bullish attitude towards most cryptocurrencies, although traders remained cautious about Ethereum and Dogecoin, despite their gains outpacing that of Bitcoin.
In response to Bitcoin’s price surpassing $69,000, retail sentiment around the digital asset turned bullish on Stocktwits for the first time this year, indicating increasing optimism among retail traders. The surge also led to liquidations worth $576 million in the last 24 hours, mostly concentrated on short positions, totaling around $470 million, with approximately $100 million in losses on long positions.
Cardano’s price surged to around $0.29, registering a retail sentiment that trended in the bullish territory, accompanied by a rise in chatter levels on Stocktwits. Additionally, Dogecoin (DOGE) and Ethereum (ETH) also outperformed Bitcoin, with gains of approximately 9% each. ETH finally crossed the $2,000 mark, while DOGE’s price rebounded to around $0.10. However, retail sentiment surrounding Ethereum remained cautious compared to the optimism seen with Cardano.
Other cryptocurrencies like Solana (SOL) and Ripple’s XRP (XRP) also experienced gains, with SOL rising by around 8% and XRP climbing over 6% within the same 24-hour period. The rapid movements and significant gains across the crypto market are indicative of the ongoing volatility and unpredictable nature of the digital asset space, causing both excitement and caution among traders and investors alike.
For any updates or corrections, users are encouraged to reach out to the newsroom via email.
