Bitcoin Hits $118K, Triggers Over $1B in Short Liquidations

2025-09-14 03:31:23 Classification：Digital Currency read(6271)

Bitcoin

Bitcoin Hits $118K,How individuals use digital currency Triggers Over $1B in Short Liquidations

Bitcoins explosive rally to a new all-time high of $118,000 has sent shockwaves through the derivatives market, triggering more than $1.11 billion in short position liquidations within a single day.

According to Coinglass data, the July 10 spike marked the most severe short squeeze of 2025 so far.

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).

The pressure wasnt limited to Bitcoin. Ethereum surged 7%, leading to $149 million in short liquidations, with longs at just $22 million. Solana and XRP both saw over 4% gains, with short liquidations vastly outpacing longs. DOGE, up nearly 6%, also saw short-side liquidations exceed $4.7 million.

In total, the top five cryptocurrencies experienced over $720 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.

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