Dogecoin leads market rebound with 15% pump, bitcoin steady above $85,000
A wave of forced buying that cost short sellers $844 million has run its course, leaving the largest cryptocurrency flat over the past hour and ZEC the only major token in the red.
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Summary
- Dogecoin surged more than 15% to just above 10 cents, leading gains among major cryptocurrencies, while Bitcoin held above $85,600 after rising about 5% over 24 hours.
- More than $1 billion in crypto positions were liquidated over the past day, including $844 million in bearish bets, suggesting further gains will depend on new buying rather than a continued short squeeze.
- Asian stocks advanced as enthusiasm for artificial intelligence lifted chipmakers, with Meta’s Muse agent gaining traction and AMD briefly surpassing $1 trillion in market value.
