Bitcoin surged to $68,310 (+5.46%), Ethereum broke through the psychological $2,000 level and Solana climbed 6.50% to $81.994, triggering the liquidation of $1.22 billion in short positions across the crypto market in just one hour, according to CoinGlass. Over the past 24 hours, 111,060 traders were liquidated for a total of $1.46 billion, including $678.11 million in Bitcoin liquidations, $423.44 million in Ethereum and $37.97 million in Solana. Solana advisor Jeff Park succinctly described the market shift as « AI down, Bitcoin up (again), » arguing that local weakness in the artificial intelligence sector is clearing the way for cryptocurrencies to rise. Fundstrat’s Tom Lee echoed this sentiment, noting that the industry is « in the early innings of a global tokenization supercycle ».
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