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

Dogecoin led a broader cryptocurrency rebound, climbing more than 15% to just above $0.10, while Bitcoin held slightly above $85,600 after a roughly 5% rise over 24 hours. Over $1 billion in crypto positions were liquidated in the past day, with $844 million of that coming from short sellers, and Zcash was the only major token trading lower.

By AI Newsroom· Reviewed by Pranav, Founder & Editor-in-ChiefPublished about 1 hour agoUpdated about 1 hour ago0 views

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

Why It Matters

The scale of liquidations — especially short squeezes — helped drive recent price moves but has largely subsided, meaning further gains will rely on fresh buying rather than forced covering. At the same time, risk-on sentiment in equity markets tied to artificial intelligence strength is supporting broader market appetite for crypto and tech assets.

Key Facts

Dogecoin move: +15% to just above $0.10 (Asian morning hours) — largest gain among major tokens (CoinDesk data)
Bitcoin level: Holding just above $85,600, roughly flat over the past hour and up about 5% over 24 hours
Total liquidations (24h): Just over $1 billion
Short-seller liquidations: $844 million (82% of total); ~135,000 traders closed out (CoinGlass)
Bitcoin/ether share of liquidations: Bitcoin ≈ $608 million; Ether ≈ $181 million; largest single liquidation ~ $21 million on Hyperliquid

Cryptocurrencies rebounded in Asian trading as Dogecoin outperformed major tokens, jumping more than 15% to trade just above $0.10. Bitcoin remained steady just above $85,600 after a roughly 5% gain over the previous 24 hours; much of that advance came during a wave of forced short-covering that hit the market earlier.

Data provider CoinGlass and CoinDesk tallies showed just over $1 billion of crypto positions liquidated in the last day, with $844 million — about 82% — coming from short sellers. The liquidation count closed out about 135,000 traders; bitcoin accounted for roughly $608 million of the day's liquidations while ether represented about $181 million. The single largest reported blow-up was a near $21 million bitcoin position on Hyperliquid.

Other large-cap tokens also moved higher: XRP climbed about 7% to nearly $1.52, Solana rose roughly 5% to just under $117, and ether added about 3% to near $2,740. BNB and TRX increased between 1% and 2%. Zcash stood out as the lone major decliner, down approximately 4% to just above $1,450. Liquidations dropped sharply from a peak of more than $300 million in an hour on Monday to under $11 million in the most recent hour, leaving the next leg of gains dependent on new buyer demand rather than continued forced covering.

Equity markets in Asia provided a supportive backdrop, with chipmakers and other tech names benefiting from renewed enthusiasm around artificial intelligence. Traders tracked strong early adoption of Meta’s new Muse AI agent, and AMD briefly surpassed $1 trillion in market value as AI-related demand for semiconductors rallied. Those equity moves helped set a risk-on tone that coincided with the crypto rebound.