Bitprismia

Bitcoin Shorts Get Rekt as BTC Tops $116K for First Time

2025-07-10 21:40:17

Main Idea

Bitcoin's price surged above $116,000 for the first time, leading to significant liquidations of short positions and sparking discussions on future market trends and meme coin performances.

Key Points

1. Bitcoin's price reached a record high of $116,734, marking a 4.8% increase over 24 hours.

2. Over $560 million in crypto positions were liquidated in the last hour, with Bitcoin shorts accounting for $425 million.

3. Total crypto liquidations over 24 hours amounted to $912 million, driven by Bitcoin's all-time highs.

4. Meme coins like Dogecoin (DOGE) and PENGU saw significant gains, rising 7% and 29% respectively in 24 hours.

5. The S&P 500 and Nasdaq Composite's performance was noted alongside Bitcoin's surge, indicating broader market trends.

Description

The price of Bitcoin just soared to another all-time high, and hundreds of millions of dollars' worth of shorts have been liquidated.

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$BTC
$117632.5
+5.80%