Data from CryptoSlate shows Bitcoin reached a peak of $111,782 before pulling back slightly to $110,992 as of press time.
Perfumo added:
“With equities healing, ETF inflows running back at a record pace, and a growing roster of public corporations hovering up supply, the feedback loop that carried BTC past $100k remains intact. Unless that trifecta of tailwinds falters, dip-buyers are likely to set the tone and today’s record print is evidence of that.”
Bitcoin’s rapid climb has triggered a wave of liquidations across the crypto derivatives market.
Over the past 24 hours, more than 120,000 traders lost their positions, totaling nearly $500 million in liquidated assets. The single largest loss was a $6.36 million BTCUSD position on Bybit.
Bitcoin trades comprised most of the liquidations, with $227 million lost. Of this amount, $173 million was from short traders and $53 million from long traders.
This liquidation wave illustrates the risks leveraged traders face during rapid market moves, particularly in a bullish environment driven by strong fundamentals and institutional demand.
