Dogecoin climbs past $0.10 as $1B liquidations lift Bitcoin
Business
Crypto is having a big day: Dogecoin soared more than 15% past the 10-cent mark, and Bitcoin held steady above $85,600 after a 5% boost.
The rally was mainly driven by just over $1 billion in crypto positions getting liquidated, $844 million of which belonged to short sellers.
Bitcoin $608 million liquidations affected 135,000 traders
Bitcoin made up $608 million of those liquidations, affecting around 135,000 traders: the largest single liquidation was a nearly $21 million bitcoin position on Hyperliquid.
Ether and Solana also climbed, while Asian stock markets got a lift from new AI breakthroughs and strong gains for chipmakers like Samsung and AMD.