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Bitcoin price rebound to $110,000 wipes out a $1 billion short on Hyperliquid

Bitcoin's price rally forced a high-stakes trader to liquidate a $1 billion short bet.

CryptoSlate

May 26

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Happy Monday!

Crypto markets are buzzing as Bitcoin's surge to $110,000 triggers a dramatic $1 billion short liquidation on Hyperliquid, underscoring renewed bullish momentum. Meanwhile, Tether charts a new course for U.S. users with a separate stablecoin, even as its CEO reaffirms USDT's mission for the unbanked abroad. And as Sweden and Norway revisit the role of cash, Vitalik Buterin spotlights Ethereum as a resilient digital payments backbone. Dive into today's top stories driving the transformation of the crypto landscape.

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The global crypto market cap is $3.45 trillion, with a 24-hour volume of $103.22 billion. The price of Bitcoin is $110,037.41, and BTC market dominance is 63.4%. The price of Ethereum is $2,563.76, and ETH market dominance is 9.0%. The best-performing sector is Virtuals, which gained 19%. The Crypto Fear & Greed Index is currently Greed (73).