MSTR, BMNR, COIN, CRCL Stock Extend Rally After Bitcoin Blasts Past $71K, Triggering $3B Liquidation Wave

Shares of Strategy (MSTR), Bitmine Immersion Technologies (BMNR), Coinbase (COIN) and Circle (CRCL) extended Wednesday’s rally in pre-market trade on Thursday as Bitcoin (BTC) continued its uptick beyond $71,000 and over $3 billion in crypto market bets were wiped out.

Bitcoin’s price rose nearly 11% in the last 24 hours to over $71,600, hitting its highest level since May 31 and clocking its biggest single-day gain since March. On Stocktwits, retail sentiment around BTC jumped to ‘extremely bullish’ from ‘neutral’ territory over the past day, while chatter rose to ‘ high’ from ‘normal’ levels.

However, Ethereum (ETH), Solana (SOL) and Ripple’s XRP (XRP) continued to outperform Bitcoin among the cryptocurrency majors. Ethereum’s price rose nearly 20% in the last 24 hours to hit $2,200, a two-month high, according to CoinGecko. XRP’s price jumped over 15% in the last 24 hours, while Solana’s price rose over 13%.

According to CoinGlass data, about $3.3 billion in leveraged bets on cryptocurrencies were liquidated in the last 24 hours, with short positions totaling $3 billion. Ethereum and Bitcoin bets accounted for the lion's share, at $1.73 billion and $1.15 billion respectively.

This is the largest liquidation event of 2026 and the third-largest crypto liquidation event over the past year. In September, over $3.6 billion was liquidated after over-leveraged long positions were flushed out, and the U.S. tariff hike on China wiped out over $19 billion in crypto bets in October.