Bearish crypto bets lose record $2.7 billion as bitcoin surges toward $70,000

AI Summary Traders betting against crypto lost $2.74 billion in a day, more than the short side of the October 2025 crash that remains the biggest liquidation event in the market's history. fulltext: 178 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.coindesk.com/markets/2026/08/20/bearish-crypto-bets-lose-record-usd2-7-billion-as-bitcoin-surges-toward-usd70-000 Source: CoinDesk