$820M in Crypto Liquidations Hit as Bitcoin Surges to $78K
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This Friday, the price of Bitcoin (BTC) climbed above $78,000, reaching a new 10-week high. This bullish movement was driven by an easing of geopolitical tensions between the United States and Iran, generating immediate optimism across financial markets. According to recent data, this sudden surge triggered a massive liquidation of short positions (bets on a price drop), wiping out over $660 million in Bitcoin futures contracts in just 24 hours.
This rally is significant not only for the price but also for the structural technical shift it suggests. The MACD indicator on the weekly chart has issued a historic buy signal after reaching its lowest point of all time. Industry analysts note that previous bullish crosses of this magnitude have preceded median returns of up to 195% within a year. Liquidity absorption between $77,500 and $78,000 confirms that the “bulls” maintain market control, increasing open interest by 13%.
Day open
$75,154
00:00 UTC
Past 7 days
+4.7%
from $71,788
Since the open
−8.4%
$68,838 · 13 Nov, 18:40 UTC
All-time high
−40.4%
$126,080 · Oct 2025
The combination of stable macroeconomic fundamentals and technical momentum signals places Bitcoin in a price discovery zone. With eyes set on a solid weekly close, the market is already projecting ambitious targets toward $90,000. The next critical step will be consolidating current support to avoid a correction due to profit-taking before seeking new all-time records.
Source:https://www.coinglass.com/
Disclaimer: Crypto Economy Flash News is prepared from official and verified public sources by our editorial team. Its purpose is to provide quick information on relevant facts within the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendations. We recommend always verifying the official channels of each project before making related decisions.
Sources and method. The data box is a snapshot taken when the story was published: price from CoinGecko's hourly series (or, if missing, our own daily close from Binance, Coinbase, Kraken or Blockchain.com); "Past 7 days" compares with the price one week earlier; the all-time high is CoinGecko's as it stood that day. Only "Since this story" uses the latest price, with its own time.
Notice. For information only; not investment advice.
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