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More than $1.05 billion (₱56.5 billion) worth of leveraged positions were wiped out in the past 24 hours as Bitcoin’s meteoric rise to a new all-time high of $117,000 triggered one of the biggest liquidations in recent memory.
According to data from Coinglass, 193,952 traders were liquidated across centralized exchanges, the largest single liquidation occurred on HTX, where an $88.55 million BTC-USDT long position was force-closed.
While Bitcoin dominated headlines with its historic rally, Ethereum (ETH) traders suffered the largest losses among altcoin holders, accounting for $86.79 million in liquidations. The second most dominant cryptocurrency has reached $3,000 for the first time since February 2025.
In total, across the top 20 liquidated tokens, the majority of losses came from short positions, which are investors betting against the rally, who were caught off guard by the continued upward surge.
Over the past 4 hours alone, $716 million in liquidations were recorded, with an overwhelming 94.69% coming from short positions. The most affected exchanges were:
Smaller platforms like Hyperliquid, CoinEx, and BitMEX also saw concentrated short-side liquidations.
The liquidation spree comes as Bitcoin surged past $117,000, up 96% year-over-year and nearly 22% since the beginning of 2025. Fueling the rally are a combination of macro, political, and institutional factors:
This article is published on BitPinas: Over $1 Billion in Crypto Liquidations as Bitcoin Soars to $117K All-Time High
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