“The price of Bitcoin soared to $104,000 and liquidated $400 million in short positionsThe growth of Bitcoin occurred after Trump’s announcement of an agreement with Britain and record inflows into ETFs. Liquidation of short positions reached $400 million per day.”, — write: unn.ua
DetailsThe rapid rise in Bitcoin prices caught traders off guard, causing a massive liquidation of bearish short positions.
The leading cryptocurrency by market value rose more than 3% to US$102,500 in 24 hours, with prices at one point exceeding US$104,000, the highest since January 31. The increase occurred after US President Donald Trump announced a comprehensive trade agreement with the United Kingdom, and cumulative inflows into spot exchange-traded funds (ETFs) reached a record level of over $40 billion.
The market as a whole also grew: the total market capitalization of all coins, except BTC, increased by 10% to $1.14 trillion, which is the highest figure since March 6, according to the data source TradingView.
This led to significant liquidations of bearish short positions or games using borrowed funds aimed at profiting from price losses. A position is liquidated or forcibly closed when a trader’s account balance falls below the required margin level, often due to adverse price changes. This results in the exchange automatically closing the position to prevent further losses.
Almost $400 million in BTC short positions were liquidated in the last 24 hours, the highest single-day figure since at least November, according to Coinglass. Meanwhile, $22 million in long positions were also wiped out.
This significant imbalance indicates that leverage was heavily skewed to the bearish side, and the rapid liquidation of short positions suggests that the futures market may have more growth potential, the publication notes.
According to Investing.com, the world’s largest cryptocurrency was heading for a strong weekly result, as it broke through the coveted $100,000 level on Thursday. The cryptocurrency was also heading for its third consecutive weekly increase, continuing the rally from the end of April.
Bitcoin Rises: Price Approaches $100,000 Amid Trading Optimism08.05.25, 10:37 • 3600 views