{"id":4160,"date":"2025-07-11T09:16:21","date_gmt":"2025-07-11T09:16:21","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/07\/11\/over-1-1-billion-shorts-obliterated-as-bitcoin-hits-118k\/"},"modified":"2025-07-11T09:16:21","modified_gmt":"2025-07-11T09:16:21","slug":"over-1-1-billion-shorts-obliterated-as-bitcoin-hits-118k","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/07\/11\/over-1-1-billion-shorts-obliterated-as-bitcoin-hits-118k\/","title":{"rendered":"Over $1.1 billion shorts obliterated as Bitcoin hits $118k"},"content":{"rendered":"

Bitcoin saw a 5% daily surge that pushed BTC to a new all-time high above $118,000.<\/span>
\nThe sudden gains had shorts wiped out, with over $1.1 billion in short positions liquidated in 24 hours.<\/span>
\nA trader on HTX was liquidated for $88 million.<\/span><\/p>\n

A spark of bullish momentum has seen Bitcoin smash through the $118,000 mark today, setting a new all-time high.<\/p>\n

The sharp move that had BTC moving from off the $110k low has triggered a massive wave of liquidations, which have wiped out over $1 billion in short positions across the cryptocurrency market in the past 24 hours.<\/p>\n

The surge, fueled by institutional demand, regulatory clarity, and macroeconomic shifts, has sent shockwaves through the crypto space, leaving traders and analysts scrambling to predict what\u2019s next for the world\u2019s largest digital asset<\/p>\n

Shorts see red amid $1.2 billion in liquidations<\/h2>\n

Bitcoin, the crypto market\u2019s bellwether, surged to a new all-time high of $118,403 on Friday, July 2025.<\/p>\n

Bitcoin price on the 7-day chart by CoinMarketCap<\/em><\/p>\n

Robust institutional demand and $1.18 billion in net inflows to Bitcoin spot ETFs on July 10 highlighted this move.<\/p>\n

Macro headwinds, with investors factoring in possible Fed rate cuts, have also added to the upside fuel.<\/p>\n

This rally triggered a massive short squeeze, with over $1.2 billion in crypto liquidations<\/a> in the past 24 hours, a 140% increase from the prior day.<\/p>\n

The most dramatic fallout from Bitcoin\u2019s surge was the annihilation of short-sellers.<\/p>\n

Over $1.11 billion in short contracts were liquidated in the past 24 hours, with $635 million tied to Bitcoin and $208 million to Ether, affecting 269,681 traders.<\/p>\n

One notable casualty was a single trader on the HTX exchange, whose $88 million short position was wiped out, underscoring the intensity of the market\u2019s upward momentum.<\/p>\n

Whales make moves as Bitcoin surges<\/h2>\n

With Bitcoin breaking a new all-time high, large holders were keen to keep hold of their windfalls.<\/p>\n

It included a Binance whale\u2019s \u201cpowerful punch\u201d that helped the market higher. CryptoQuant highlighted this in a post on X<\/a>.<\/p>\n

\u201cUntil recently, whales on the US-based Coinbase exchange were driving the market, but today\u2019s surge was driven by a significant move from a major whale on the Binance exchange,\u201d said CryptoQuant\u2019s DanCoinInvestor.<\/p>\n

While others bought BTC, some scrambled to preserve their positions amid massive liquidations.<\/p>\n

According to Lookonchain<\/a>, a whale who was down by more than $10 million on a 1,135 BTC or $132.65 million short position, opted to deposit more funds to avoid liquidation.<\/p>\n

The whale added the $5.5 million USDC to his position on Hyperliquid with a new liquidation price of $121,080.<\/p>\n

James Wynn, recently in the headlines for major losses, has also seen positions wiped out in the last 24 hours.<\/p>\n

James Wynn’s $BTC<\/a> short position got fully liquidated in less than 12 hours, resulting in another loss of $27,921.63!https:\/\/t.co\/205yuTcrz1<\/a> pic.twitter.com\/AyVORksque<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) July 11, 2025<\/a><\/p>\n\n

As BTC eyes further gains, analysts are saying the supply-side dynamics are tightening.<\/p>\n

For instance, Glassnode has noted<\/a> that long-term holders and smaller entities are accumulating Bitcoin faster than its issuance rate.<\/p>\n

This accumulation, coupled with compressed volatility across all timeframes, has set the stage for Bitcoin\u2019s breakout, with analysts eyeing $120,000 as the next psychological target.<\/p>\n

The post Over $1.1 billion shorts obliterated as Bitcoin hits $118k<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin saw a 5% daily surge that pushed BTC to a new all-time high above $118,000. The sudden gains had shorts wiped out, with over $1.1 billion in short positions liquidated in 24 hours. A trader on HTX was liquidated for $88 million. A spark of bullish momentum has seen Bitcoin smash through the $118,000 […]<\/p>\n","protected":false},"author":0,"featured_media":4161,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-4160","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/4160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=4160"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/4160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/4161"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=4160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=4160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=4160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}