According to Coinglass data, the July 10 spike marked the most severe short squeeze of 2025 so far.

In total, more than 261,000 traders were liquidated, with the overall wipeout across both short and long positions reaching $1.24 billion. Longs accounted for just $120 million of that total, highlighting the overwhelming tilt in market sentiment.

The single largest liquidation was an $88.5 million BTC/USDT short position on HTX. Bybit led in total liquidations at $291 million, followed by HTX ($133M), Gate ($71.8M), OKX ($54.6M), and Binance ($54.5M).

The pressure wasn’t limited to Bitcoin. Ethereum surged 7%, leading to $149 million in short liquidations, with longs at just $22 million. Solana and XRP both saw over 4% gains, with short liquidations vastly outpacing longs. DOGE, up nearly 6%, also saw short-side liquidations exceed $4.7 million.

In total, the top five cryptocurrencies experienced over $720 million in short liquidations, compared to just $40 million in long positions, reinforcing the strength of the current bullish momentum.

As BTC continues to climb, bearish traders are facing steep losses—and the market shows no signs of slowing.

The post Bitcoin Hits $118K, Triggers Over $1B in Short Liquidations appeared first on Coindoo.

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Filed under: Bitcoin - @ July 11, 2025 10:28 am