$970M lost: Bitcoin’s $100K surge triggers mass liquidation
The post $970M lost: Bitcoin’s $100K surge triggers mass liquidation appeared on BitcoinEthereumNews.com. Bitcoin’s recent surge has triggered a significant short squeeze, leading to substantial liquidations. The market remains volatile, and investors should be prepared for potential corrections. A green crypto market usually spells trouble for short-sellers, and Bitcoin’s [BTC] dramatic return to the $100k milestone was no different. In a stunning move that wiped out $970 million in leveraged positions, bearish bets were forcefully liquidated. In short, traders positioned against the rally found themselves caught in a textbook short squeeze. The result? A bullish stampede that left the bears bruised and the crypto market basking in green glory. A surprise rally for bulls, a shockwave for bears On the 2nd of May, Bitcoin wicked through the $98k ceiling, teasing a breakout. However, the follow-through was anything but convincing. Without a strong spot bid, bulls lost momentum fast. Bears smelled blood. With shorts stacking up to 63.64% dominance in BTC/USDT perps on Binance, the setup was ripe. What followed was a textbook long squeeze: Open Interest flushed, longs got nuked, and BTC retraced to $94k in just 48 hours. But fast-forward a week, and the tables turned. A brutal $970 million in liquidations marked a market-wide rebound, with the Funding Rate (FR) spiking green for its longest stretch in a month. Source: CryptoQuant Evidently, Futures traders are still all-in on a BTC bull run, with long dominance at 51.64% across exchanges. The 4-hour order book screams “bullish vibes.” But the bears aren’t out yet. On Binance, 60% of accounts are still positioned short, betting on a potential price rejection near the $103k resistance zone. Is Bitcoin setting up for a potential liquidity trap, repeating the same market structure from last week? Liquidity squeezes keeping the Bitcoin bulls at bay Cracks are starting to show. Even though BTC surged back to $104k in a…
The post $970M lost: Bitcoin’s $100K surge triggers mass liquidation appeared on BitcoinEthereumNews.com.
Bitcoin’s recent surge has triggered a significant short squeeze, leading to substantial liquidations. The market remains volatile, and investors should be prepared for potential corrections. A green crypto market usually spells trouble for short-sellers, and Bitcoin’s [BTC] dramatic return to the $100k milestone was no different. In a stunning move that wiped out $970 million in leveraged positions, bearish bets were forcefully liquidated. In short, traders positioned against the rally found themselves caught in a textbook short squeeze. The result? A bullish stampede that left the bears bruised and the crypto market basking in green glory. A surprise rally for bulls, a shockwave for bears On the 2nd of May, Bitcoin wicked through the $98k ceiling, teasing a breakout. However, the follow-through was anything but convincing. Without a strong spot bid, bulls lost momentum fast. Bears smelled blood. With shorts stacking up to 63.64% dominance in BTC/USDT perps on Binance, the setup was ripe. What followed was a textbook long squeeze: Open Interest flushed, longs got nuked, and BTC retraced to $94k in just 48 hours. But fast-forward a week, and the tables turned. A brutal $970 million in liquidations marked a market-wide rebound, with the Funding Rate (FR) spiking green for its longest stretch in a month. Source: CryptoQuant Evidently, Futures traders are still all-in on a BTC bull run, with long dominance at 51.64% across exchanges. The 4-hour order book screams “bullish vibes.” But the bears aren’t out yet. On Binance, 60% of accounts are still positioned short, betting on a potential price rejection near the $103k resistance zone. Is Bitcoin setting up for a potential liquidity trap, repeating the same market structure from last week? Liquidity squeezes keeping the Bitcoin bulls at bay Cracks are starting to show. Even though BTC surged back to $104k in a…
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