Traders betting against the cryptocurrency market lost $2.74 billion in a single day as Bitcoin surged toward the $70,000 mark. The single-day losses exceed the short-side liquidations recorded during the October 2025 crash, which remains the largest liquidation event in cryptocurrency market history. Somali retail investors who trade on international crypto exchanges using peer-to-peer mobile money networks face these exact liquidation risks, meaning a sudden global price surge can instantly wipe out local accounts holding short positions.