$1.23 Billion in Crypto Short Liquidations Triggered as Bitcoin Rises
Crypto short positions faced massive liquidation, totaling $1.23 billion within one hour on August 19, 2026, driven by a surge in Bitcoin (BTC) prices to nearly $68,424—a rise of 2.5%. Ethereum also gained ground, rising over 3.9% and trading above $2,000. Three major whale wallets on Hyperliquid alone absorbed losses totaling around $194 million from liquidated short positions. The forced buying triggered by these liquidations further fueled the upward price movement of BTC in a self-reinforcing cycle. Over 114,038 traders were affected within 24 hours, with shorts accounting for nearly all of the losses. The largest single ETH position on Bitget was worth $32.18 million. The market surge followed developments from Washington where Treasury yields dropped after a rise in long-end debt buybacks. With FOMC minutes due later that day, traders are watching closely to see if dovish signals will sustain the rally or whether hawkish sentiment could reverse recent gains.
Topics: Bitcoin Ethereum short liquidation volatility