{"id":147929,"date":"2026-04-07T04:00:39","date_gmt":"2026-04-07T04:00:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=147929"},"modified":"2026-04-07T04:00:39","modified_gmt":"2026-04-07T04:00:39","slug":"bitcoin-sits-45-below-its-peak-as-short-sellers-absorb-276m-in-losses","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=147929","title":{"rendered":"Bitcoin Sits 45% Below Its Peak As Short Sellers Absorb $276M In Losses"},"content":{"rendered":"

West Texas Intermediate crude has hit $115 a barrel<\/a>, gasoline prices in the US are up nearly 40% since late February, and Bitcoin is still trying to break through a wall it has failed to climb six times now.<\/p>\n

That is the world Bitcoin<\/a> finds itself in on Monday as it briefly touched $69,550 \u2014 a modest 3.30% gain that nevertheless sent shockwaves through the derivatives market.<\/p>\n

Short Sellers Take The Hardest Hit<\/h2>\n

Over $276 million in leveraged positions were wiped out in 24 hours, hitting 80,200 traders across crypto derivatives platforms. The damage was not spread evenly.<\/p>\n

Bears took the brunt of it. According to CoinGlass data<\/a>, short positions accounted for $188 million of the $210 million liquidated in just the 12-hour window around the price surge.<\/p>\n

Long liquidations, by comparison, came in at $24 million. Traders who had been betting on a continued decline were caught flat-footed as Bitcoin pushed back toward the $70,000 mark it has repeatedly failed to hold since early February.<\/p>\n

The asset remains well off its best levels. Bitcoin set an all-time high of $126,000 on October 6, 2025. At current prices, it is trading roughly 45% below that record \u2014 context that puts Monday\u2019s rally in sharper perspective.<\/p>\n

A Squeeze Could Still Be Coming<\/h2>\n

The positioning data tells an uneven story. Based on CoinGlass figures, more than $6 billion in short positions are stacked near $72,500. If Bitcoin pushes up to that level, those positions could be forced to close in rapid succession.<\/p>\n

On the downside, about $2 billion in long positions sit near $65,000 \u2014 a smaller but real risk if momentum fades. That gap between short and long exposure is what has some traders watching closely for a possible extended squeeze.<\/p>\n

Bitcoin has made six runs at $70,000 since slipping below it in early February. Each attempt has fallen short. Monday\u2019s move is the latest test of that resistance, and it arrives against a backdrop that is anything but calm.<\/p>\n

Energy Shock Adds Pressure On All Fronts<\/p>\n

A standoff over the Strait of Hormuz<\/a> has been tightening its grip on global energy markets since late February. Iran has rejected ceasefire terms<\/a>, insisting compensation for war-related damage must be addressed before the strait reopens.<\/p>\n

Oil prices have surged as a result. US gasoline costs are up sharply, and broader inflation fears have followed.<\/p>\n

US President Donald Trump has called for Iran to reopen the waterway, citing global trade concerns. Reports indicate he has also suggested a deal with Iran may be within reach, while warning of severe consequences if talks collapse \u2014 including potential US control over Iranian oil resources.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

West Texas Intermediate crude has hit $115 a barrel, gasoline prices in the US are up nearly 40% since late February, and Bitcoin is still trying to break through a wall it has failed to climb six times now. That is the world Bitcoin finds itself in on Monday as it briefly touched $69,550 \u2014 […]<\/p>\n","protected":false},"author":0,"featured_media":147930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-147929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/147929"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=147929"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/147929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/147930"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=147929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=147929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=147929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}