Bitcoin Rally to $118K Wipes out Over $1 Billion in Short Bets
2025-07-11 06:16:52
Main Idea
Bitcoin's rally to a new all-time high of over $118,000 triggered massive liquidations, wiping out over $1.11 billion in short contracts in 24 hours, with Bybit and HTX exchanges accounting for the bulk of liquidations.
Key Points
1. Bitcoin's price surge to over $118,000 led to $1.11 billion in short contract liquidations within 24 hours, while long contracts saw $120 million liquidated.
2. A total of 261,866 traders were liquidated, with combined forced liquidations reaching $1.24 billion.
3. Bybit accounted for $291 million in liquidations (98% shorts), followed by HTX with $133 million.
4. BTC saw $547.59 million in short liquidations, ETH $149.09 million, and SOL and XRP also had significant short liquidations.
5. The largest single liquidation was an $88.55 million BTC/USDT contract on HTX.
Description
Bitcoin’s recent surge resulted in significant liquidations, with more than $1.09 billion in short contracts wiped out within a 24-hour period. Bitcoin Rally Triggers Liquidations Bitcoin’s rally to a new all-time high of over $118,000 triggered a massive wave of liquidations, wiping out more than $1.11 billion in short contracts in a single 24-hour period
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