Bitcoin (BTC) and Ethereum (ETH) surged Wednesday as a sharp rebound across crypto markets triggered $1.91 billion in liquidations over 24 hours, according to CoinGlass data (on August 19 at 5:00 p.m. UTC). Short positions accounted for most of the forced closures, suggesting traders betting on further declines were caught on the wrong side of the move.
About $1.74 billion of the liquidations came from short positions, or more than 91% of the total, while long liquidations totaled $173.41 million. The moves affected about 123,240 traders, with Bitcoin and Ethereum accounting for the bulk of the liquidations.
According to data from CoinGecko, Bitcoin rose 5.6% to $68,567.52, while Ethereum gained 9% to $2,089.02 at the time of the market snapshot at 5:00 p.m. UTC.
Short sellers bear the brunt of the move
According to data from CoinGlass (on August 19 at 5 PM UTC), the concentration of liquidations in short positions accelerated as Bitcoin and Ethereum moved sharply higher during the latter part of the 24 hours. Liquidations totaled about $1.78 billion over four hours, including $1.66 billion in short positions. Over 12 hours, the figure reached $1.85 billion, with shorts accounting for $1.71 billion.
The 24-hour total eventually rose to $1.91 billion.
| Timeframe | Total | Longs | Shorts |
| 1 hour | $23.73M | $4.58M | $19.15M |
| 4 hours | $1.78B | $119.77M | $1.66B |
| 12 hours | $1.85B | $138.42M | $1.71B |
| 24 hours | $1.91B | $173.41M | $1.74B |
The largest individual liquidation was a $48.80 million BTC-USD position on Hyperliquid, according to the data provided.
Bitcoin pushes toward $69,000
According to data from CoinGecko (on August 19 at 5 PM UTC), Bitcoin spent much of the session around the $64,000-$65,000 area before accelerating higher.
The token reached an intraday high of $68,982.40, up from a low of $64,123.86. At the snapshot, Bitcoin had a market capitalization of about $1.38 trillion, with 24-hour trading volume of roughly $31.67 billion.
The move brought Bitcoin close to the $69,000 level after it had traded below $65,000 for much of the period.
Ethereum outpaces Bitcoin
According to data from CoinGecko (on August 19 at 5 PM UTC), Ethereum posted a larger percentage gain, rising 9% to $2,089.02. The token traded between $1,905.44 and $2,103.19 over the previous 24 hours. Ether’s market capitalization stood at about $252.4 billion, while 24-hour trading volume was approximately $14.98 billion.
The move above $2,000 came after Ether had remained below that level for much of the session, adding to the short-position liquidations as the rally gathered pace.
| Metric | Bitcoin | Ethereum |
| Price | $68,567.52 | $2,089.02 |
| 24h change | +5.6% | +9.0% |
| Market cap | $1.376T | $252.365B |
| 24h volume | $31.67B | $14.977B |
| 24h high | $68,982.40 | $2,103.19 |
| 24h low | $64,123.86 | $1,905.44 |
Fed minutes and White House meeting in focus
The rally comes as crypto traders await two developments in Washington.
The Federal Reserve is due to release the minutes of its July 28-29 policy meeting at 2 p.m. ET Wednesday. The central bank left its policy rate unchanged at 3.5%-3.75% at that meeting. The minutes could provide further detail on officials’ views on inflation and the path for interest rates.
President Donald Trump is also expected to meet cryptocurrency and financial-industry executives at the White House. Representatives from companies including Coinbase, Ripple, Chainlink, Kraken, Gemini, a16z and Paradigm are expected to attend, alongside officials including SEC Chairman Paul Atkins and CFTC Chairman Mike Selig.
The meeting is scheduled ahead of the CFTC’s inaugural Innovation Advisory Committee meeting on Thursday, where members are set to discuss crypto regulation, artificial intelligence and prediction markets.
Liquidations amplify a sharp market move
The liquidation data shows how quickly a move in the underlying market can translate into forced derivatives closures.
With more than $1.7 billion in short positions liquidated, the latest rebound was particularly costly for traders positioned for lower prices. Bitcoin accounted for about $1.14 billion of total liquidations, followed by Ethereum at $510.17 million and Solana at $47.38 million.
The figures capture forced position closures rather than net investor losses across the entire spot market, so they should not be interpreted as equivalent to $1.91 billion of capital leaving crypto markets.
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