#CryptoComeback $900M liquidated from crypto market as Bitcoin surges past $103K in latest rally

Bitcoin surged above $103,000, causing a wave of forced exits that resulted in the liquidation of over $900 million in the last 24 hours.

This represents a 200% increase in liquidations over the previous day, according to Coinglass data. Bitcoin (BTC) shorts accounted for $321 million in liquidations. At the same time, open interest increased by 5% to $133 billion, indicating that new leveraged bets are entering the market.The average crypto relative strength index has also risen to 70, signaling overbought conditions.

The spike in liquidations followed a rapid market rebound. With risk-on sentiment returning to international markets, the total value of the crypto market reached $3.3 trillion, its highest level since early March.