Bitcoin shorts faced a costly 46-day negative funding streak before $427M in liquidations pushed price toward $80K.

Bitcoin funding rates remained negative for 46 consecutive days, the longest streak since 2023, forcing short sellers to pay longs daily and eroding 30-40% of their margin. This prolonged pressure preceded a major squeeze triggered by a $2.54 billion Bitcoin purchase and geopolitical news, resulting in over $427 million in short liquidations. The event pushed Bitcoin's price toward the critical $80,000 breakout level, supported by strong spot buying from U.S. investors. The sustained negative funding and spot demand suggest continued volatility and potential for further price moves depending on how remaining shorts manage funding costs.