In total, more than 261,000 traders were liquidated, with the overall wipeout across both short and long positions reaching $1.24 billion. Longs accounted for just $120 million of that total, highlighting the overwhelming tilt in market sentiment.
The single largest liquidation was an $88.5 million BTC/USDT short position on HTX. Bybit led in total liquidations at $291 million, followed by HTX ($133M), Gate ($71.8M), OKX ($54.6M), and Binance ($54.5M).
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The pressure wasn’t limited to Bitcoin. Ethereum surged 8.5%, leading to $215.22 million in short liquidations, with longs at just $43.4 million. Solana saw a 4% surge and XRP witnessed a major 8% uptick, with short liquidations vastly outpacing longs. DOGE, up nearly 11%, also saw short-side liquidations exceed $9.95 million.
In total, the top five cryptocurrencies experienced almost $910 million in short liquidations, compared to just $40 million in long positions, reinforcing the strength of the current bullish momentum.
As BTC continues to climb, bearish traders are facing steep losses—and the market shows no signs of slowing.
The post Bitcoin Hits $118K, Triggers Over $1B in Short Liquidations appeared first on BitcoinLinux.
