Bitcoin and ether's sharp breakouts liquidate nearly $700 million short positions

In a significant market movement, the prices of Bitcoin and Ether experienced sharp breakouts, resulting in the liquidation of nearly $700 million worth of short positions held by traders. This sudden surge in cryptocurrency values triggered a wave of automatic sell-offs, as investors who had bet against these digital assets were forced to close their positions to minimize losses. As a consequence, this dramatic shift not only reflects the volatility present in the cryptocurrency market but also highlights the increasing interest and investment in Bitcoin and Ether. source: https://www.coindesk.com/markets/2026/01/14/bitcoin-and-ether-s-sharp-mechanical-breakouts-liquidate-nearly-usd700-million-short-positions