Short liquidations accounted for nearly three-quarters of the total, reflecting the velocity of Bitcoin’s ascent. Though long liquidations reached $84.79 million, the magnitude of forced short position closures pointed to aggressive positioning against the rally.
The move higher occurred alongside persistent demand in spot markets. US-listed Bitcoin ETFs attracted $3.4 billion in inflows last week, adding to supportive conditions. Meanwhile, dovish signals from the Federal Reserve have softened broader macro pressures, giving Bitcoin space to move without immediate rate headwinds.
While prices remain within reach of the $100,000 milestone, the combination of aggressive liquidations and sustained open interest highlights a market still exposed to rapid directional moves.
Prior all-time highs have historically produced volatile sessions, with sharp price swings observed in breakout scenarios. Bitcoin was trading just under $99,300 at press time, less than 1% away from breaching six figures for the first time since February.
