$357M in crypto liquidations as Bitcoin price surges past $80,000, forcing many short sellers out.

Bitcoin's price surged above $80,000, leading to $357 million in liquidations of leveraged crypto bets within 24 hours, mostly from traders betting against the market (short positions). Bitcoin alone accounted for $160.8 million of these liquidations, followed by Ethereum with $84.7 million. Over 98,000 traders were forced out, highlighting the risks of short selling in volatile crypto markets. This price rally may attract more investors but also signals high market volatility ahead.