Broad Crypto Rally Decimates Shorts as BTC Tops $80,000, ZEC and HYPE Hit New Highs

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AuthorBlock Tao

Sep 7, 2026 1:30 AM

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On September 7, the cryptocurrency market experienced a broad-based rally, pushing total capitalization past $2.7 trillion. Bitcoin held firmly above $80,000, while altcoins like ZEC and HYPE surged to all-time highs, entering the top ten by market capitalization. This momentum triggered $231 million in total liquidations over 24 hours, with short liquidations nearing $150 million. ZEC recorded the largest liquidations at nearly $50 million, surpassing Bitcoin and indicating that heightened market volatility is increasingly shifting from Bitcoin toward altcoins.

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TradingKey - Crypto Market Surges Broadly: BTC Holds Firm Above $80,000 as ZEC and HYPE Hit All-Time Highs to Lead Altcoin Rally.

On September 7, the cryptocurrency market saw another strong broad-based rally, with total market capitalization surpassing $2.7 trillion, approaching the high of May this year. Among them, Bitcoin (BTC) strongly stood above the $80,000 mark, while driving the leading decentralized perpetual contract token HYPE (HYPE) and flagship privacy coin ZEC (ZEC) to repeatedly hit new all-time highs, sparking massive short liquidations in the derivatives market.

In the past 24 hours, over 70,000 traders were liquidated in the crypto market, with total liquidations reaching $231 million and short liquidations approaching $150 million. Notably, the token with the largest liquidation was not BTC, but ZEC, at nearly $50 million, followed by ETH, reflecting that market volatility is shifting from BTC to altcoins.

Crypto-liquidation-Long-short-51072bb0c5db4751a03f903cbd327b52 Crypto market liquidation data, Source: CoinGlass

This morning, the price of HYPE approached $90, with its market cap surpassing $22 billion; ZEC likewise surged to new highs, briefly breaking above $1,200 with its market cap exceeding $21 billion. Currently, HYPE and ZEC rank ninth and tenth, respectively, on the cryptocurrency market cap leaderboard.

zcash-zec-price-e6aecc394cfb481b9aa42d333d0ba88c ZEC price chart, Source: TradingView

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

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