Bitcoin’s $73K Surge Liquidates $587M: Is Altcoin Season Next?

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<a href="https://tech-oracle.com/btc-usd/">Bitcoin</a> Season Dominates Crypto Market As Analysts Watch For Next Altcoin Run

  • Over $587M liquidated in 24 hours as Bitcoin surged from about $64K to above $73K, triggering a massive short squeeze.
  • CryptoQuant data tracking 2,000+ altcoins shows the market remains in Bitcoin season across major exchanges.
  • Public Bitcoin miners holding over $8B in BTC are accelerating sales while shifting capital toward AI data centers.

Bitcoin is still the dominant force in the cryptocurrency market, and current data indicates we’re in a period often called ‘Bitcoin season’ – where most of the investment is flowing into Bitcoin. Experts believe this usually happens before other cryptocurrencies, known as altcoins, start to see price increases.

Bitcoin Season Indicator Shows Market Concentration

According to data from CryptoQuant, despite the name, it’s currently a Bitcoin season, not an altcoin season. Their indicator, which analyzes the performance of over 2,000 altcoins on major exchanges, determines this by tracking how many altcoins are performing better than Bitcoin.

BITCOIN SEASON IS STILL DOMINATING — AND THAT’S USUALLY HOW ALTCOIN RUNS START

CryptoQuant’s Altcoin Season indicator, which monitors over 2,000 alternative cryptocurrencies on leading exchanges, suggests that the altcoin season is still ongoing.

That’s actually a familiar setup.…

— CryptosRus (@CryptosR_Us)

Right now, most altcoins aren’t performing as well as Bitcoin, suggesting investors are still primarily focused on BTC. This is often seen as the beginning of a larger trend in the cryptocurrency market.

Bitcoin typically bounces back first after a market downturn because it’s the most easily traded cryptocurrency. Big investors tend to reinvest in Bitcoin initially, and other cryptocurrencies (altcoins) usually follow suit as overall market confidence improves.

CryptoQuant analysts have observed that Bitcoin typically leads the way in crypto market rallies. Historically, Bitcoin’s price increases have often happened before other, smaller cryptocurrencies start to rise in value.

Short Liquidations Surge as Bitcoin Rally Accelerates

A significant increase in Bitcoin’s price led to over $587 million worth of crypto positions being closed—or ‘liquidated’—in a single day, according to market data.

Honestly, the recent price jump really hurt those betting against the market. About $477 million worth of short positions – basically, people who thought the price would go down – were wiped out. Long positions, where people were betting *on* the price going up, only accounted for around $109 million in losses. So, most of the pain was felt by the shorts.

$587M LIQUIDATED AS RALLY TRIGGERS MASSIVE SHORT SQUEEZE

Over $587M has been liquidated from the crypto market in the past 24 hours.

• $477.22M shorts liquidated• $109.86M longs liquidated

The move comes as Bitcoin rallied from ~$64K to over $73K this week,…

— CryptosRus (@CryptosR_Us)

Bitcoin’s price jumped from about $64,000 to over $73,000 this week, causing traders who had bet against it to sell their positions to avoid further losses.

When prices rise quickly, it can create a situation where traders who bet against the price (known as ‘shorts’) are forced to buy back the asset to limit their losses. This buying activity adds even more upward pressure on the price, causing it to climb further – a phenomenon often called a short squeeze.

Exchange Data Shows Synchronized Altcoin Activity

Market data indicates that altcoins are performing similarly across leading exchanges like Binance, Coinbase, OKX, and Bybit. Analysts observing trading on these platforms have found that money is generally flowing in the same direction between them.

Altcoins often move in unison when overall market feelings change. This suggests that trading is influenced by general market trends, not just individual news or events. Experts note that this kind of coordinated movement frequently happens at the beginning of significant market changes.

Bitcoin usually calms the market before money starts flowing into smaller cryptocurrencies. Once that happens, these alternative coins, or altcoins, can start performing better than Bitcoin itself.

Bitcoin Mining Firms Increase Coin Sales

Even though Bitcoin prices are going up, major mining companies are selling more of their coins. These companies currently hold over $8 billion worth of Bitcoin in total. Recent information indicates that some miners are selling their Bitcoin holdings at a faster rate.

Historically, when the market dipped, cryptocurrency miners would typically sell coins just to pay their bills. However, recent selling suggests a shift in strategy. Some mining companies are now using the funds to invest in artificial intelligence infrastructure, with a growing interest in AI data center businesses.

Experts believe this change shows how mining companies are updating their ways of making money. As technology becomes more important, some companies are looking for income beyond just digging for resources.

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2026-03-05 19:20