Bitcoin tops $73K as SOL, ADA and BNB surge; $370M in shorts wiped out

• Solana, Cardano, and BNB prices rose as Bitcoin surged past $73,000.
• Altcoins surge as SOL passes $92, ADA hits $0.28 and BNB nears $675.
• Price gain caught leveraged traders off guard, with over $370 million liquidated across crypto.

Cryptocurrency prices climbed on Friday as risk assets attempted a rebound amid easing oil prices, with Solana (SOL), Cardano (ADA), and Binance Coin (BNB) among the tokens posting notable gains.

As these altcoins approached key price levels, bearish traders were caught off guard by the sharp move higher.

The spike wiped out many short positions, pushing total 24-hour liquidations beyond $370 million.

Most of the liquidations involved BTC and ETH shorts, though Solana also experienced a significant wave of forced exits.

SOL, ADA, and BNB surge to key levels

As US stocks posted modest gains alongside a pullback in oil prices, sentiment across the crypto market turned sharply positive.

The broader rebound pushed Solana (SOL) above $92, marking a 24-hour gain of more than 6% as renewed investor confidence returned to the market.

Cardano (ADA) also moved higher, reaching $0.28 after rising about 5% over the past 24 hours. The rally helped ADA reclaim its place among the top 10 cryptocurrencies by market capitalization, ahead of Hyperliquid.

Among other leading altcoins, BNB advanced to around $675, gaining roughly 3% during the same period.

These moves came alongside Bitcoins sharp rally above $73,000, with BTC reaching intraday highs of $73,758 at the time of writing.

The surge also lifted Ethereum (ETH), which climbed above $2,200 during the session.

Liquidations jump 120% as shorts feel the pressure

According to data from CoinGlass, more than 93,680 traders were liquidated over the past 24 hours, with total liquidations exceeding $370 million.

Bitcoin accounted for more than $154 million in liquidations, while leveraged Ethereum traders saw more than $115 million in positions wiped out as ETH moved above $2,150.

On the global exchanges, the single largest liquidation occurred on Hyperliquid in the BTC-USD pair, with a trade valued at $4.24 million.

Meanwhile, more than $20 million in liquidations were tied to Solana positions, with long positions accounting for only about $2.4 million of that total.

Short sellers took the biggest hit, with more than $18 million in SOL short positions wiped out as Solanas price volatility exceeded 8%. CoinGlass data also showed that more than 3,500 traders were liquidated as SOL crossed the $91 mark.

Elsewhere, BNB recorded roughly $820,000 in liquidations, while ADA saw about $985,000 in positions wiped out.

Such liquidation cascades can accelerate price rallies, as forced buying from margin calls injects additional liquidity into rising assets. Analysts say this dynamic often appears at the early stages of stronger market uptrends.

However, with macroeconomic and geopolitical risks still present, prices could remain volatile as traders continue to reposition.