Bitcoin Rebounds Above $66K as Short Liquidations and Supply Shock Boost Risk Sentiment

Bitcoin rose on Monday, moving from the low-$60,000 range to levels above $66,000 amid easing geopolitical tensions and improved risk sentiment in global markets. One report said BTC was up about 2.2% to roughly $65,800 and helped push the broader crypto market above $2.3 trillion ^{[1] [2]}.

Market data highlighted derivatives stress as a driver of the jump. According to Coinglass data cited in one account, total BTC liquidations over 24 hours were about $213.5 million, with roughly $198.2 million (about 93%) tied to short positions being forced out. Another report similarly characterized the move as accelerated by trapped shorts rather than new “conviction” buying ^[3].

Separately, analysts referenced on-chain and positioning indicators pointing to stabilization after a prior correction. A report attributed the rebound to a return of buying pressure and a stabilization phase around $65,000, citing Glassnode commentary ^[2].

Overall, the sources describe Monday’s Bitcoin strength as tied to improving macro conditions alongside a short-liquidation-driven derivatives unwind and subsequent stabilization signals from on-chain analytics ^[4].