Bitcoin Recovery Triggers $140 Million Short Liquidations as Next Key Level Looms at $77,600

Bitcoin attempted to recover above the $77,000 level, triggering a wave of liquidations for short positions that had bet on further declines. Over the past 24 hours, digital asset markets saw approximately $196.71 million in forced liquidations, with short liquidations accounting for $142.38 million or about 72% of the total. The clearing of short positions as prices rose is seen as contributing to the rebound's strength. According to CoinGlass data from October 18, one-hour total liquidations reached $9.81 million, with short liquidations making up $9.03 million.