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Bitcoin's +22% Week

Last Thursday brought the largest short liquidation event since at least 2021, and by Sunday the same thing was happening to the traders who'd bet the other way. Every one of them had borrowed to open the position, and borrowing is what gave their exchange the right to close it.

Everyone else held their coins and kept their exit to themselves. If you'd rather be in that group, a swap takes a couple of taps.

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What comes next for Bitcoin

CryptoQuant's Ki Young Ju sees spot and futures demand positive for the first time since the October 2025 peak. Hold that for a month and the bear market argument gets hard to make. Lucy Gazmararian at Token Bay Capital also thinks the bear market is ending, but wants one more 20% flush first.

CoinEx analyst Jeff Ko puts the line at $70,000: acceptance above it keeps the picture constructive, and a dip toward $69,700–$69,000 is a normal retest rather than a reversal.

Either scenario is survivable if you own what you're holding.

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What a liquidation is, and what just happened

Everyone who blew up Thursday had bet Bitcoin would fall. Closing that bet means buying back. Thousands closed at once, and the forced buying pushed the price straight into the next batch.

$3 billion in shorts went across crypto against $263.5 million in longs, over a billion of it inside a single hour. More than 172,000 traders were caught. Bitcoin ended the week at $76,943.90, up 22%. Then the weekend turned and took $250 million of longs with it.

a short note on liquidations

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