Bitcoin Charges Toward $100K—$224M in Short Positions Obliterated

BTC bulls are back in control as the king crypto flirts with six-figure territory for the first time in 15 months. The rally isn’t just making hodlers rich—it’s vaporizing bearish bets at a blistering pace.

Blood in the water: Over $224 million in leveraged short positions got liquidated in 24 hours as Bitcoin surged 11%. Traders betting against crypto’s resilience? Classic Wall Street hubris.

What’s fueling the fire? Spot ETF inflows, halving supply shock dynamics, and that sweet schadenfreude when traditional finance’s ’smart money’ gets rekt by a decentralized protocol. The irony writes itself.

Short liquidations accounted for nearly three-quarters of the total, reflecting the velocity of Bitcoin’s ascent. Though long liquidations reached $84.79 million, the magnitude of forced short position closures pointed to aggressive positioning against the rally.

Futures open interest has remained elevated, hovering NEAR $40 billion according to Coinglass, suggesting leverage remains embedded across derivatives markets.

The move higher occurred alongside persistent demand in spot markets. US-listed Bitcoin ETFs attracted $3.4 billion in inflows last week, adding to supportive conditions. Meanwhile, dovish signals from the Federal Reserve have softened broader macro pressures, giving Bitcoin space to move without immediate rate headwinds.

While prices remain within reach of the $100,000 milestone, the combination of aggressive liquidations and sustained open interest highlights a market still exposed to rapid directional moves.

Prior all-time highs have historically produced volatile sessions, with sharp price swings observed in breakout scenarios. Bitcoin was trading just under $99,300 at press time, less than 1% away from breaching six figures for the first time since February.