A record wipeout
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: "Rekord törlés
(or "Rekord likvidálás" but "wipeout" means mass liquidation, so "Rekord likvidálás" or "Rekord veszteség" but let's use "Rekord likvidálás" - but the original heading is "A record wipeout" - meaning a record-breaking wipeout. We can say "Rekord likvidálás" or "Rekordméretű törlés" - but "törlés" is deletion, not good. "Rekord likvidálás" is fine. The $2.74 billion hit leveraged positions that had piled on bearish bets. - "A 2,74 milliárd dollár olyan tőkeáttételes pozíciókat érintett, amelyek bearish fogadásokkal voltak tele." - "bearish bets" - "medve fogadások" or "shortos fogadások" - we can say "short fogadások" or "csökkenésre irányuló fogadások". Let's use "short fogadások" or "bearish fogadások" - but "bearish" is common in crypto. We can say "medvepiaci fogadások" but "bearish" is fine. We'll use "bearish fogadások" or "short fogadások". Actually "bearish" means expecting price fall, so "ár esésére irányuló fogadások" but it's long. Let's use "short fogadások" since it's a short position. So: "A 2,74 milliárd dollár olyan tőkeáttételes pozíciókat érintett, amelyek short fogadásokra épültek." - "piled on" - "felhalmoztak" - so "amelyek short fogadásokat halmoztak fel" or "amelyek short fogadásokkal voltak tele". I'll say "amelyek short fogadásokat halmoztak fel." When bitcoin moved sharply higher, those positions were forced to cover, accelerating the rally. - "Amikor a bitcoin élesen emelkedett, ezek a pozíciók kénytelenek voltak zárni, gyorsítva a rallyt." - "cover" means to close short positions, so "zárni" or "fedezni" - in trading "cover" is "fedezni" but we can say "zárni" (close). I'll say "kéénytelenek voltak fedezni" but "fedezni" is more technical. Actually "short covering" is "short lezárás" or "short fedezés". We'll say "pozícióikat kénytelenek voltak zárni" (close their positions). And "accelerating the rally" - "gyorsítva ezzel a ralit" or "amely felgyorsította a ralit". "The previous record for short-side liquidations came during the October 2025 crash, when prices tumbled and shorts briefly profited." - "A short-oldali likvidálások előző rekordja a 2025. októberi összeomlás idején volt, amikor az árak zuhantak és a shortok rövid ideig nyereséget termeltek." "Now the script has flipped." - "Most a forgatókönyv megfordult." or "Most a szerepek felcserélődtek." I'll use "Most a forgatókönyv megfordult." Third paragraph: "Why the rally triggered the squeeze
"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 was bitcoin's climb toward $70,000, a level that many bears likely thought was out of reach. The result was a single-day loss that topped the one from October 2025, which was itself a record.
Translation: "
