‘Bears in disbelief’ — $1B in crypto shorts wiped as Bitcoin pumps
2025-07-11 04:53:01
Main Idea
Approximately $1.01 billion in crypto short positions were liquidated as Bitcoin and the broader crypto market surged, triggering significant reactions from traders and analysts.
Key Points
1. 232,149 traders were liquidated in the past 24 hours, with $1.01 billion in crypto short positions wiped out, including $570 million in Bitcoin shorts.
2. Bitcoin liquidations totaled $590.04 million, with only $20.21 million being long positions.
3. Crypto market capitalization rose 4.4% to $3.63 trillion, with analysts describing the event as a 'MASSIVE Short squeeze.'
4. The Crypto Fear & Greed Index remained at a 'Greed' score of 71, down slightly from last week's 73.
5. Analysts noted potential risks, with $2.11 billion in long positions at risk if Bitcoin retraces to $112,000.
Description
Approximately 232,149 traders have been liquidated over the past 24 hours as the crypto market rallied to new highs.
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