Oh, the irony of fate! The latest breakout of Bitcoin (BTC) did not merely set new records; it orchestrated a grand spectacle of liquidation, wiping out tens of thousands of traders in one of the most brutal short squeezes the market has witnessed in years. 🎉
Fueled by the rising tide of momentum and the insatiable appetite of institutional investors, Bitcoin has ascended like a phoenix over the past few days, soaring to a new all-time high of $118,000. One can almost hear the collective sigh of relief from the bulls, mingled with the groans of the shorts. 🤷♂️
The uptrend unleashed a tempest of liquidations across the market, with short sellers bearing the brunt of the storm. According to CoinGlass, more than $1 billion in short positions were obliterated in the past 24 hours alone, marking the largest daily liquidation event in four years. A veritable bloodbath, one might say. 😢
The largest day of short liquidation in 4 years.😢
— CoinGlass (@coinglass_com) July 11, 2025
Over 232,000 traders found themselves caught in this maelstrom. Bitcoin shorts bore the heaviest losses, with $570 million wiped out, while Ether (ETH) shorts added another $206.9 million to the tally as ETH climbed to $3,000. Even the altcoins, those often-forgotten stepchildren of the crypto world, were not spared, with dozens of high-leverage positions crushed as prices surged across the board. 🌊
The scale of the squeeze was so vast that it lit up liquidation heatmaps across major exchanges like a fireworks display. High-leverage trades were obliterated as prices broke past key levels. The biggest single loss was a staggering $88.55 million on HTX, and Binance saw about 5,000 BTC liquidated. One can almost imagine the traders’ faces as they watched their positions vanish into thin air. 😂
With BTC now holding close to $118,000, analysts predict that the rally will continue. The spike in liquidations is underpinned by strong fundamentals: institutional inflows into spot Bitcoin ETFs have soared, macro sentiment is improving, and risk appetite across markets is broadening. 📈
Together, these factors are fortifying bullish conviction. Bitwise CEO Hunter Horsley, ever the optimist, forecasts that the positive trend will persist. He believes that Bitcoin is “detaching from the $100,000 range,” predicting that the asset could reach up to $200,000 by year-end. One can only hope that the shorts have learned their lesson and will not be so quick to bet against the indomitable spirit of Bitcoin. 🚀
Read More
- Jurassic World Rebirth Roars to Record-Breaking $300+ Million Opening: Can It Sustain the Hype?
- Top 8 UFC 5 Perks Every Fighter Should Use
- One Piece Episode 1135: Kuma’s Journey and Bonney’s Search for Truth – Release Date Revealed!
- Cyberpunk 2077 Patch Tier List
- USD ZAR PREDICTION
- Daemons of the Shadow Realm
- All Suits, Hats, and Masks in Death Stranding 2
- Red Samurai’s True Identity in Death Stranding 2 Revealed by Kojima’s cryptic post
- Grow a Garden – Complete Pre-Historic Event Update Guide
- How to Get All 22 Bromides in Lunar 2: Eternal Blue
2025-07-11 17:48