Bitcoin Sets New ATH—Crypto Bears Crushed In $453 Million Squeeze

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Well, well, well, what do we have here? It’s a little thing called Bitcoin setting a new all-time high (ATH), and—surprise, surprise—the cryptocurrency derivatives market is experiencing a tidal wave of liquidations. Hold onto your hats, folks, because things just got *very* interesting. 😱

Bitcoin Has Rallied To A New Price Record

After what felt like an eternity of just hovering under the ATH (honestly, we were all starting to lose faith), Bitcoin has finally broken free and soared to a new record high. Okay, it wasn’t *that* long, but you get the picture. BTC touched the $112,000 mark for a brief moment, making everyone’s eyes go wide. 👀

And just to make sure you know it’s real, here’s a chart showing what’s been going on:

As you can see, Bitcoin had a tiny dip to $111,000 after hitting that ATH high. But, like a classic hero in a movie, it’s bounced back, and now altcoins are jumping in joy, too. 🕺

Ethereum (ETH) has made a respectable 4.5% gain in the past 24 hours, and then there’s Sui (SUI)—oh boy—making a big splash with a 9% jump. Just out here flexing. 💪

Of course, all this excitement is giving the bears a bit of a rough time. Who knew betting against crypto could be such a bad idea? 🤔

Crypto Market Liquidations Have Crossed $500 Million

Now, let’s get into the juicy part. According to CoinGlass (because, yes, there are people tracking this), the derivatives market has seen some serious liquidations. How much? A whopping $528 million in the last 24 hours alone. Can you believe that?! 😳

Here’s a breakdown of the bloodbath:

And, guess what? A massive $453 million of that came from short sellers who probably thought they could outsmart Bitcoin. Spoiler alert: they didn’t. 😂

Bitcoin and Ethereum were the main culprits, contributing $225 million and $148 million in liquidations, respectively. Ouch. 😬

But hey, who can blame the market? It’s like a rollercoaster ride with some serious ups and downs, and sometimes, people just fall off. Literally. 😅

Major short squeezes are almost a part of crypto life at this point, thanks to the crazy volatility and, let’s be honest, the wild amounts of leverage available. It’s almost like watching a reality show, except with billions of dollars at stake. 😜

In fact, there have been some pretty massive squeezes in the past few weeks. But here’s the twist—according to Glassnode, this time things are a little different with Open Interest. What’s that? Well, it’s the total number of Bitcoin positions open across all those shiny, centralized platforms.

When things like this happen, you’d expect Open Interest to drop because, well, everyone’s getting liquidated. But—plot twist—it didn’t. It actually bounced back right after the initial dip. The drama is real, people. 📉📈

So, what does this all mean? Are fresh long positions making a comeback? Only time will tell. Stay tuned for the next chapter in this wild crypto saga. 🧐

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2025-07-11 04:43