Bearish crypto bets lose record $2.7 billion as bitcoin surges toward $70,000

Traders betting against crypto lost $2.74 billion in a day, more than the short side of the October 2025 crash that remains the biggest liquidation event in the market's history. Traders betting against crypto lost $2.74 billion in a day, more than the short side of the October 2025 crash that remains the biggest liquidation event in the market's history.