Bitcoin Price Tops $116,000, Massive Short Squueze Approaches $1 Billion
2025-07-10 22:10:53
Main Idea
Bitcoin (BTC) has seen a significant price increase and trading volume in the past 24 hours and seven days, with other cryptocurrencies like Ethereum (ETH) and XRP also showing notable gains.
Key Points
1. BTC is up 4.6% in the past 24 hours and over 5.5% in the past seven days.
2. BTC's daily trading volume reached $50 billion.
3. Ethereum (ETH) is approaching $3,000, and XRP is trading close to $2.6.
4. 94% of the trading activity in the past day was from sellers.
Description
Bitcoin’s price is expanding to the upside and has charted a new all-time high at around $116,400. With this latest move, BTC is up 4.6% in the past 24 hours and more than 5.5% over the past seven days with a massive $50 billion daily trading volume. Source: TradingView The move comes at the expense of short traders, who lost a combined total of around $940 million in the past day, according to data from Coinglass. This has caused a massive short squeeze, which is a common term used to describe ...
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