When Crypto Greed Meets Liquidation: A Tale of $543 Million

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Oh, what a day it has been in the world of cryptocurrencies! A mere 122,338 traders have been liquidated in the last 24 hours, leading to a staggering total of $543 million in liquidations. It’s almost as if the market decided to throw a little party and invite everyone to the liquidation dance. 🎉

And what a delightful coincidence, this has all happened just as digital assets like Bitcoin (BTC $111,331) have started to show a bit of pep in their step. With a 24-hour volatility of 2.2%, a market cap of $2.21 trillion, and a 24-hour volume of $35.77 billion, it’s clear that the crypto liquidations have hit the short traders the hardest. One can almost hear the sound of short positions being squeezed like lemons. 🍋

Bitcoin, Ethereum, and Solana: The Unlikely Trio in a Liquidation Frenzy

The most significant single liquidation order to hit the market occurred on Huobi, formerly known as HTX. The BTC-USDT transaction was valued at a rather impressive $51.56 million. Of the $543 million in crypto liquidations, BTC was the star of the show, incurring losses of up to $234.15 million. It’s a bit like watching a high-stakes poker game where the house always wins. 🃏

Short traders, you poor dears, suffered more than 90% of these liquidations, according to the Coinglass liquidation heatmap. But fear not, for Bitcoin’s price has recently staged an ambitious recovery, gaining a few percent and pushing towards a new all-time high. At press time, BTC was trading at $111,122.33, up 1.92% over the last 24 hours. The market capitalization has jumped to $2.21 trillion, and the 24-hour trading volume has spiked by more than 40%. The Crypto Fear & Greed Index has also soared to a “Greed” score of 71, indicating a rising tide of market optimism. At this rate, analysts are whispering that Bitcoin might just hit $120,000. Who knew liquidation could be so profitable? 💰

Ethereum (ETH $2,772) also saw its fair share of liquidations, totaling $157.96 million, with short traders once again bearing the brunt. Solana (SOL $156.5), Ripple (XRP $2.45), Dogecoin (DOGE $0.18), and other meme coins were not spared either. It’s a veritable crypto bloodbath, but with a silver lining for those who are long. 🦸‍♂️

Liquidation heatmap. Source: coinglass.com. The selloffs resulted in the liquidation of $543 million in digital assets, including BTC, ETH, SOL, and DOGE. Bitcoin recently hit a new all-time high of $112,000, with hopes of testing the $120,000 milestone soon.

Just a week ago, the crypto market saw $333.59 million in liquidations from 97,654 traders across various digital assets. The latest spike marks a clear shift in sentiment as prices had been trending downward for weeks, likely leading short traders to misjudge the current momentum. It’s a bit like trying to predict the weather in London—utterly unpredictable. ☔

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2025-07-10 22:27