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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Data shows the cryptocurrency short holders have witnessed a mass liquidation event during the past day as Bitcoin and other assets have rallied. Bitcoin Has Set A New All-Time High Beyond $111,000 Despite pessimism surrounding Bitcoin during the earlier phase of decline, the cryptocurrency has defied expectations to not only recover to the previous all-time high (ATH), but also smash past it to set a new record around $111,800. Below is a chart that shows how the recent bullish push from the asset has looked. The price of the coin has broken past the previous ATH of about $109,200 | Source: BTCUSDT on TradingView BTC seemed to be on the cusp after hitting $103,000 earlier in the month, but the coin couldn’t quite gather enough steam for that final push, leading to it falling prey to sideways consolidation. Naturally, this has changed in the last couple of days, with sustained momentum finally making an appearance. The altcoins have also seen rallies of their own recently, but in terms of weekly returns, the original digital asset has managed to outperform most of the top ones. Ethereum, for example, has rallied about 3.5% in this period, less than half of BTC’s 8.5% return. Crypto Liquidations Have Surpassed $500 Million In The Last 24 Hours According to data from CoinGlass, the volatility led by the number one cryptocurrency has meant that a large number of positions on the derivatives exchanges have ended up finding liquidation during the past day. “Liquidation” here refers to the forceful closure that any open contract has to go through when its losses have exceeded a certain degree (as defined by the specific platform with which the position is open). Here is a table that shows…

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Filed under: News - @ May 23, 2025 3:16 am