Just before 7 a.m. ET on Sunday, bitcoin (BTC) hit an all-time high of $80,076 per coin on Bitstamp. However, after that early morning peak, BTC dipped back to the $79.4K range following a brief foray above $80K. The broader climb in bitcoin and other crypto prices underscores a huge day for liquidations according to coinglass.com data, with over $430 million in derivatives positions wiped out in just 24 hours.
At 8 a.m. on Sunday, a massive $315 million in short positions were liquidated across the board, with BTC short bets alone losing $96.35 million. Ethereum shorts saw a $56 million setback, and about $114 million in long positions were also cleared on Sunday. Altogether, 141,830 traders faced liquidations, including one Binance trader who lost a $13.1 million BTC position.
Other substantial short bets that took a hit included wagers on SOL, DOGE, and SUI, as well as significant shorts in MOODENG, NEIRO, and HMSTR. This chain of liquidations reminds everyone: when you short a BTC bull run, you might just catch the horns. The surge of liquidations across multiple crypto derivatives highlights the high-risk stakes that come with betting against bitcoin’s climb.
As major losses struck within hours, this wave of liquidations serves as a clear caution to those shorting during a bullish market. Traders experiencing steep losses reflect bitcoin’s intense price action, underscoring the thrill—and volatility—of the crypto market for those taking on bold bets.
