Short sellers had a brutal day. Traders betting against crypto lost $2.74 billion in a single session as bitcoin surged toward the $70,000 level. That figure eclipses the short-side losses recorded during the October 2025 crash, which had been the largest liquidation event in crypto market history.
Translation: "Shortsælgere havde en brutal dag. Handlere, der satsede mod krypto, tabte 2,74 milliarder dollars i en enkelt session, da Bitcoin steg mod $70.000-niveauet. Dette tal overgår de short-side tab, der blev registreret under krakket i oktober 2025, som havde været den største likvidation i kryptomarkedets historie."
But note: "short-side losses" - "short-side tab" - maybe "tab på short-positioner" or "shortsidernes tab". I'll use "tab på short-positioner" to be clear.
Also "liquidation event" -> "likvidationsbegivenhed" or "likvidation" - but "likvidation" is the act of closing positions. So "den største likvidation i krypto markedets historie" - but the original says "liquidation event", so "likvidationsbegivenhed" is fine.
Actually, in crypto context, "liquidation" is often used in English even in Danish, but we can translate it as "likvidation" or "tvangsafvikling". I'll use "likvidation" for simplicity.
Let me write the whole content translation.
A record wipeout
-> "En rekordudryddelse
"? "Wipeout" means a total loss. "Et rekordtab" or "En rekordudryddelse". But "udryddelse" is like annihilation. Maybe "Et rekordstort tab" or "En rekordudryddelse" - I'll use "En rekordudryddelse" but it's a bit strong. Actually, "wipeout" in trading context means a big loss. I'll use "Et rekordstort tab" - but the original says "A record wipeout" as a heading. So "Et rekordtab" is fine.
But let's keep the headings as h2.
Original h2: "A record wipeout" -> "Et rekordtab"
Then paragraph: "The $2.74 billion hit leveraged positions that had piled on bearish bets. When bitcoin moved sharply higher, those positions were forced to cover, accelerating the rally. The previous record for short-side liquidations came during the October 2025 crash, when prices tumbled and shorts briefly profited. Now the script has flipped."
Translation: "De 2,74 milliarder dollars ramte positioner med gearing, der havde hobet sig op med bearish satsninger. Da bitcoin bevægede sig kraftigt opad, blev disse positioner tvunget til at dække, hvilket accelererede stigningen. Den tidligere rekord for short-side likvidationer kom under krakket i oktober 2025, hvor priserne faldt og shorts kortvarigt profiterede. Nu er manuskriptet vendt."
But "short-side liquidations" -> "short-side likvidationer" - maybe "likvidationer af short-positioner". I'll use "likvidationer af short-positioner".
Also, "short" as noun: "shorts" - but in Danish, "shorts" is used? Possibly "short-handlere" or "shorts". I'll use "shorts" as a term.
Let me rephrase: "De 2,74 milliarder dollars ramte positioner med gearing, der havde ophobet bearish væddemål. Da bitcoin steg kraftigt, blev disse positioner tvunget til at dække, hvilket accelererede opturen. Den tidligere rekord for likvidationer af short-positioner kom under krakket i oktober 2025, da priserne faldt, og shorts kortvarigt profiterede. Nu er manuskriptet vendt."
But "dække" in this context means to cover short positions, so it's correct.
Next h2: "Why the rally triggered the squeeze" -> "Hvorfor opturen udløste squeeze"
But "squeeze" is "short squeeze" - in Danish, it's often "short squeeze" or "squeeze". I'll use "short squeeze" as it's common.
Actually, the heading is "Why the rally triggered the squeeze" - so "Hvorfor opturen udløste short squeeze" but "the squeeze" refers to the short squeeze. So "Hvorfor opturen udløste short squeeze" or "Hvorfor opturen udløste squeeze". I'll use "short squeeze" for clarity.
Then paragraph: "Liquidations happen when exchanges automatically close positions that fall below margin requirements. A move this sharp sets off a chain reaction — each forced sale pushes the price further, triggering more liquidations. This time, the trigger
