BTC Saw Its Largest Short Liquidation Spike Since 2024 But Makes U-Turn

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News In a recent analysis on X, Bitfinex noted that BTC just saw its largest short liquidation spike since September 2024. Advertisement On Feb. 13, 10,700 BTC in shorts were wiped out as the price bounced on better macro data. On this particular day, Bitcoin sharply rose from a low of $65,799 to $69,434, reversing a four-day drop. This action caught bearish traders unawares, possibly creating a short squeeze, which pushed the Bitcoin price higher. BTC just saw its largest short liquidation spike since Sept 2024. On 13 Feb 10,700 $BTC in shorts were wiped as price bounced on better macro data. If spot demand follows, this squeeze could be the first sign the downside trend is running out of steam. pic.twitter.com/cEWL18blnU — Bitfinex (@bitfinex) February 16, 2026 Bitcoin’s price recovered above $70,000 over the weekend, driven by cooler-than-expected U.S. inflation data and increased risk appetite. Bitcoin reached a high of $70,941 on Feb. 15, recovering from a sharp drop near $60,000 earlier in the month. Advertisement However, these gains have been slightly reversed, with Bitcoin down 1.91% in the last 24 hours to $69,333. Bitcoin is on track to reverse weekly gains, up just 0.6% in the last seven days, according to CoinMarketCap data. HOT Stories Morning Crypto Report: Europe Leads Ripple USD Activity on XRP Ledger, Dormant Ethereum Wallet With 6,335x Profit Fails 1 ETH Deposit, Solana Records $31 Million Weekly ETF Inflows Amid 'Buoyant' Sentiment 50 Million XRPs Sold in Less Than 24 Hours You Might Also Like Sat, 02/14/2026 - 18:42 Saylor's Strategy (MSTR) Stock Rallies 9% Amid Bitcoin Price Rebound By Dan Burgin This comes as the crypto markets fell Monday, with Bitcoin trading in red before a packed week of economic data. In the last 24 hours, liquidations across the market have reached $280 million, according to CoinGlass data. Advertisement Traders are preparing for a busy week of macroeconomic events, including Fed minutes and the core PCE inflation report. The minutes of the January Fed meeting are expected, as well as the release of the Fed's preferred inflation gauge, the core personal consumption expenditures price index (PCE), for fresh positioning signals. What's next? Bitcoin posted its fourth consecutive weekly loss, with the cryptocurrency struggling to find clear direction as a weekend rally fizzled. The Bitcoin price ended Sunday down 2.12% for the week, erasing its weekend bounce. You Might Also Like Mon, 02/16/2026 - 13:57 Remarkable Bitcoin 2025 Financial Results Announced by Metaplanet CEO By Yuri Molchan Bitcoin has dropped more than 40% from its all-time high near $127,000 in October, struggling to latch onto rallies in gold or equities. The broader crypto market has lost almost $2 trillion in value over the same period. Still, some analysts say the technical picture leaves room for a rebound as there remains scope for a recovery toward initial resistance at $73,000 to $75,000. Bitfinex noted that if spot demand follows, the recent short squeeze seen on Bitcoin could be the first sign the downside trend is running out of steam. #Bitcoin #Bitcoin Price Prediction #Bitcoin Price