Bitcoin, Ethereum, and XRP See Gains Amid Crypto Shorts Liquidations
Bitcoin, Ethereum, and XRP experience notable price increases as crypto shorts face significant losses, according to Decrypt. Bitcoin rises above $62,000, while Solana gains more than 22% in the last week, amid a surge in liquidations totaling $602 million over 24 hours.
On July 2, 2026, Bitcoin surpassed the $62,000 mark, rebounding from a 21-month low it encountered earlier in the week. This increase of approximately 3% in one day contributes to a weekly gain of around 4%. Other top cryptocurrencies, such as Ethereum and Solana, also saw gains, with prices reaching $1,701 and $81, respectively.
Overall, crypto liquidations jumped to $602 million in the past 24 hours, with short positions leading the liquidation events. Ethereum recorded $187 million in liquidations, slightly exceeding Bitcoin's $184 million. There is an evident bullish sentiment across the crypto market, especially following Federal Reserve Chair Kevin Warsh's comments regarding potential changes to interest rates, which left traders in uncertainty.
The employment report released by the U.S. Bureau of Labor Statistics indicated that fewer jobs were added in June than expected, which has led to mixed reactions in the stock market. Crypto-related stocks have shown positive movements, with companies like MicroStrategy and Coinbase posting gains. Investors are advised to remain vigilant regarding market developments and Federal Reserve announcements in the coming weeks.
Summary based on original reporting by Andrew Hayward at Decrypt, originally published Jul 2, 2026. SolanaWire does not republish source content.
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