Bitcoin, Ethereum, and Dogecoin Spike Wipes Out $500M in Short Positions

$530M in Shorts Liquidated as Bitcoin Tops $93.5K on Trade Deal Hopes

A crypto rally fueled by easing U.S.-China trade tensions triggered over $500 million in short liquidations on Tuesday, the highest since October. Bitcoin surged from $88,000 to more than $93,500, dragging altcoins higher across the board.

Liquidations were heaviest on Bybit ($234M), Binance ($100M), and Gate.io ($70M), as leveraged traders betting on a downturn were forced to unwind positions. Ether (ETH), Cardano (ADA), and dogecoin (DOGE) each gained around 14%, while SUI and UNI climbed up to 18%.

Traders responded to President Trump’s suggestion that tariffs on China could be reduced as part of a potential agreement. Analysts also pointed to a weaker U.S. dollar and speculation about future Fed rate cuts as catalysts for crypto’s strength.