Short Sellers Lose $440 Million as Bitcoin Climbs Toward $75,000
Bitcoin surged to $74,679, causing $540 million in crypto liquidations, predominantly affecting short sellers.Summary
Bitcoin experienced a significant rally, climbing 5.7% to $74,679 and triggering approximately $540 million in cryptocurrency liquidations across the derivatives market. This surge caught short sellers off guard, resulting in $440 million in losses, which constituted about 81% of the total liquidations. Long traders incurred losses of nearly $100 million. The damage was led by BTC-denominated positions ($236 million), followed by Ethereum (ETH) ($143 million), Rave ($35 million), and Solana (SOL) ($11.37 million). The largest single liquidation order was a $12.40 million BTCUSDT position. The rally was fueled by a combination of factors, including potential de-escalation in geopolitical tensions following statements from President Trump regarding Iran, and substantial institutional buying, with Strategy disclosing a $1 billion Bitcoin purchase. This confluence of events led to cascading liquidations that propelled Bitcoin past the $74,000 mark.
(Source：BeInCrypto)