Bitcoin reclaims $65,000 as $130m in shorts are liquidated
The digital currency turned green following a period of downward pressure, triggering the liquidation of bearish bets across major exchanges.
Key takeaways
- 1Bitcoin price rose back above the $65,000 level as the market turned green.
- 2Traders holding short positions lost $130 million in liquidations during the move.
Bitcoin reclaimed the $65,000 level as the market turned green, triggering $130 million in short liquidations. The price move followed a period of downward pressure, forcing bearish traders to exit their positions as the digital asset regained momentum. Trading data shows the recovery occurred after the asset had faced significant volatility.
These liquidations occur when exchanges close out leveraged bets because the price of the asset has risen too high for the trader to maintain their margin requirements. This process often accelerates price increases as short sellers are forced to buy back the asset to cover their losses. The liquidations were spread across several major platforms as the price climbed back through psychological resistance levels.
Bitcoin is the first and largest cryptocurrency by market value, often serving as a barometer for the wider digital asset market. It recently marked its 18th anniversary on 31 October, dating back to the publication of its whitepaper in 2008. The asset reached an all-time high of over $126,000 in October 2025 before the more recent market correction that saw it trading at lower levels.
Traders will watch whether the price can hold above the $65,000 mark or if the recent bounce was a temporary reaction to the liquidations. The clearing of $130 million in shorts suggests a shift in immediate market sentiment, though the asset remains significantly below its previous peaks. Further volatility is expected as the market processes these technical shifts and looks for sustained buying volume.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.