Bitcoin, Ethereum and Solana Shorts Get Rekt as BTC Price Rebounds Near $69K

Decrypt

by Andrew Hayward

February 25, 2026

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Bitcoin, Ethereum and Solana Shorts Get Rekt as BTC Price Rebounds Near $69K

Bitcoin, Ethereum, and Solana traders are facing significant losses as their short positions get liquidated amid a market rebound. Bitcoin has surged back above $69K for the first time in over a week, while Ethereum and Solana have seen double-digit gains, with Solana jumping nearly 14% to approach $89. This sharp rally has led to more than $400 million in short positions being liquidated in the last day, primarily affecting Bitcoin ($200M), Ethereum ($153M), and Solana ($22M). The crypto market整体 has recovered by 6.6% over the past 24 hours, with several altcoins like Polkadot, Filecoin, and Avalanche also experiencing notable gains. This rebound aligns with broader risk-on sentiment in equities, where prominent crypto stocks such as Circle, Figure, and Coinbase are surging—highlighting a shift in investor confidence. The data from CoinGlass shows that while Bitcoin remains down 21% over the last month, its recent rally has been fueled by short position liquidations. Ethereum, which had dropped significantly earlier this week, is now trading at $2,075 after gaining 12%. Solana, which faced heavy selling pressure in recent weeks, is also reversing course with a near-14% increase. This market reversal matters for crypto investors as it signals a potential shift from bearish to bullish sentiment. The rebound in major cryptocurrencies and the corresponding short squeeze indicate that traders are reassessing their positions amid volatile markets. For those following the crypto space, this highlights the importance of staying attuned to market dynamics and the interconnectedness of traditional equity markets with digital assets. Additionally, prediction platforms like Myriad suggest growing confidence in Bitcoin's upward trajectory, with a 43% chance it will rise to $84K versus a 57% chance of dropping to $55K.

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Originally published on Decrypt on 2/25/2026