Categories: Bitcoin

Quick Take: Crypto Liquidations Top $970M as Short Sellers Suffer Massive Losses


Following the recent surge of Bitcoin past the $100,000 mark, short sellers experienced significant liquidations totaling around $970 million, or about ₱54.1 billion.

  • $BTC topped the list with $393.58 million in liquidations, followed by $ETH at $300.32 million.
  • Altcoins like $SOL and $SUI also faced massive liquidations of $27.85 million and $15.86 million, respectively.
  • Among the meme coins, $DOGE had $14.01 million in liquidations, $1000PEPE had $11.50 million, and $MEMEFI recorded $9.44 million.

Liquidation Breakdown in the Last 24 Hrs

Photo for the Article - Quick Take: Crypto Liquidations Top $970M as Short Sellers Suffer Massive LossesPhoto for the Article - Quick Take: Crypto Liquidations Top $970M as Short Sellers Suffer Massive Losses
  • Total Traders Affected: 199,602
  • Largest Single Liquidation: $11.97 million $BTC-$USDC trade on crypto exchange Binance
  • Long Positions: $133.80 million in liquidations
  • Short Positions: $818.98 million in liquidations

Exchanges’ Impact

  • Bybit: $324.40 million (86.59% short positions)
  • Binance: $215.61 million (81.52% short positions)
  • Gate.io: $180.51 million (90.98% short positions)
  • OKX: $124.14 million (77.83% short positions)
  • HTX: $84.25 million (92.93% short positions)
  • CoinEx: $11.78 million (93.26% short positions)
  • Bitmex: $11.66 million  (97.71% short positions)
  • Bitfinex: $674,910 (99.04% short positions)

Bitcoin at $100K Mark

On May 9, 2025, $BTC’s price surged past $103,000, driven by a combination of macroeconomic factors, renewed institutional demand, and geopolitical developments.

  • U.S.-U.K. Trade Deal: U.S. President Donald Trump announced a new trade agreement with the United Kingdom (U.K.), describing it as a symbol of “reciprocity and fairness” in international trade.
    • The deal reduces auto import tariffs from the U.K. from 27.5% to 10% and eliminates tariffs on steel and aluminum. It also includes a quota for 13,000 metric tons of tariff-free beef imports.
  • Interest Rate Cuts: Traders are betting on interest rate cuts by the U.S. Federal Reserve (Fed), with CME FedWatch data showing a 70% probability of a rate cut by July and a 95% chance of at least one cut by October.
    • This comes despite the Fed holding rates steady this week and Chair Jerome Powell offering no clear timeline for easing.
  • Missouri Bill 594: Missouri is poised to become the first U.S. state to eliminate capital gains tax with House Bill 594, a move that could significantly benefit investors by making all capital gains—including from crypto—state tax-free.

Bitcoin at $150K Prediction

Arthur Hayes, former BitMEX CEO, predicts $BTC will soar to $150,000 this year, driven by continued money printing from the Fed and rising inflation, which he says creates a “perfect setup” for a rally in risk assets.

Speaking at Token2049 in Dubai, Hayes noted that the Fed’s decision to hold rates steady amid economic uncertainty mirrors past conditions that sparked crypto surges. He believes $ETH and $SOL will follow $BTC’s lead, though he admits his short-term predictions have not always been accurate.

Altcoins Also Rallied

  • $ETH rose by 20.3%, surpassed the $2,100 mark.
  • $SOL gained 8.4%, currently valued at $163.29.
  • $BNB went up by 3.8%, now at $624.68.
  • $SUI jumped 13.6%, now priced at $4.01.
  • $XRP increased by 4.2%, now valued at $2.31.

This article is published on BitPinas: Quick Take: Crypto Liquidations Top $970M as Short Sellers Suffer Massive Losses

Advertisement


What else is happening in Crypto Philippines and beyond?



Source link

Joseph Rees

Share
Published by
Joseph Rees

Recent Posts

Ripple Files for U.S. Banking License for XRP and RLUSD

Ripple is making a serious move into traditional finance. The company behind XRP has applied…

9 minutes ago

Hydrow Discount Code: Save Up to $150 in July

Hydrow rowing machines transformed the at-home fitness market when they launched in 2017. With their…

30 minutes ago

US Crypto Exchanges a ‘Blind Spot’ in North Korea Laundering Scheme

North Korean developers, operating as fake freelancers, have reportedly amassed over $16.5 million this year…

31 minutes ago

BlackRock’s Bitcoin ETF ‘Machine’ Outearns Legendary S&P 500 Fund: Details

The BlackRock iShares Bitcoin Trust (IBIT) has achieved a remarkable milestone by generating more annual…

1 hour ago

Imagen AI (IMAGE) Developer to Enable Ripple Labs Stablecoin RLUSD for Service Payments

Subtitle: RLUSD integration enhances transaction efficiency and multichain access across Imagen's AI-powered social ecosystem.…

2 hours ago

AI job predictions become corporate America’s newest competitive sport

In late May, Anthropic CEO Dario Amodei appeared to kick open the door on a…

2 hours ago