Dogecoin leads market rebound with 15% pump, bitcoin steady above $85,000

Dogecoin surged more than 15% to just above 10 cents, posting the strongest gain among major cryptocurrencies, while Bitcoin remained steady just above $85,600 after a 5% rise over the previous 24 hours.

Short‑seller liquidations drive price action

CoinGlass data show that over $1 billion of crypto positions were liquidated in the past day, with $844 million (about 82%) belonging to short sellers. Roughly 135,000 traders were closed out. Bitcoin accounted for about $608 million of the liquidations and Ether for $181 million. The largest single liquidation was a nearly $21 million Bitcoin position on the Hyperliquid exchange.

Broader market moves

Other notable price changes included:

• XRP up 7% to around $1.52
• SOL up 5% to just under $117
• Ether up 3% to near $2,740
• BNB and TRX each gaining between 1% and 2%
• ZEC the only major token to fall, down 4% to just above $1,450

Liquidations in the most recent hour fell below $11 million, a sharp decline from the peak of more than $300 million during Monday’s surge, indicating that further upside will depend on new buying rather than forced short covering.

Asian equity backdrop

Asian equity markets rose, led by AI‑related optimism. The MSCI Asia‑Pacific index gained nearly 1%, with chipmakers Samsung and SK Hynix contributing to the rally. AI developments from Meta’s Muse agent and AMD’s brief breach of a $1 trillion market cap also supported sentiment.