Crypto Market Bloodbath: $700,000,000 Evaporated, Bears Go Extinct
2025-07-14 09:54:11
Main Idea
The cryptocurrency market experienced a significant downturn with $700 million in liquidations, primarily affecting short positions, while Bitcoin reached a new all-time high above $122,000 and surpassed Amazon in global asset rankings.
Key Points
1. Bitcoin surged past $122,000, setting a new record and becoming one of the top five global assets with a valuation exceeding $2.04 trillion.
2. Approximately $732 million was liquidated in the past day, with shorts suffering over $600 million in losses compared to $116 million for longs.
3. Bybit and Binance accounted for over half of all liquidations, with ongoing margin calls visible in real-time for Bitcoin and Ethereum pairs.
4. The U.S. GENIUS Act, among other crypto bills, is set to be considered by Congress from July 14-18, potentially acting as a major market catalyst.
5. Ethereum broke through $2,800, signaling a potential rally toward $4,000, while XRP approached but did not reach $3.
Description
Bearish side of cryptocurrency market took massive hit that can become foundation for bullish surge
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