Bitcoin surge to $63,700 crushes short sellers

Bitcoin's rebound to $63,700 triggered $504 million in short seller losses over 24 hours, the most since late April. Total crypto liquidations reached $655 million, affecting over 104,000 traders. Bitcoin and ether positions accounted for $315 million and $201 million respectively. The largest single liquidation was a $12.3 million bitcoin futures position on OKX.