Bitcoin Hits $118K as $1B Shorts Liquidated in Record Rally
TL;DR Summary
Bitcoin surged past $118,000, leading to over $1.13 billion in liquidations within 24 hours, primarily affecting short positions, as traders bet against the rally. The event marked the largest short-side wipeout of 2025, driven by bullish market sentiment and increased open interest in futures.
- BTC News: Bitcoin Nears $118K, Sets Fresh Highs as Over $1B Shorts Get Liquidated in 2025 Record CoinDesk
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- What Crypto Derivatives Say About Bitcoin's Record Price Decrypt
- ‘Bears in disbelief’ — $1B in crypto shorts wiped as Bitcoin pumps Cointelegraph
- Bitcoin Breaks Fresh $118K All-Time High as Crypto Rally Accelerates The Defiant
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