Bitcoin and ether's sharp breakouts liquidate nearly $700 million short positions

Bitcoin extended its breakout on Wednesday, climbing to as high as $97,800 during the U.S. trading session after finally breaching the $95,000 resistance that capped prices for much of the past two months. The largest cryptocurrency gained 3.5% over the past 24 hours. Meanwhile, the second largest cryptocurrency, Ethereum’s ether (ETH), outpaced bitcoin's gains, rallying 5% to $3,380 — its highest price in over a month — and breaking through the key $3,300 level for the first time in 2026. The synchron ...