Binance Sees $10.59 Million Bitcoin Short Liquidation as BTC Nears $100k

Bitcoin’s relentless rally toward the $100,000 milestone has triggered massive liquidations across crypto exchanges, with Binance recording one of the largest single short squeezes. As BTC touched $99,300, over $224 million in short positions were wiped out globally, affecting 111,000 traders in a dramatic 24-hour period.

Bitcoin Nears $100k as Short Sellers Face $224 Million Liquidation

Bitcoin surged to $99,300 in the past 24 hours, marking its closest approach to the $100,000 threshold since February. The rally triggered a cascade of liquidations, with $224 million in short positions wiped out. Over 111,000 traders were caught in the squeeze, including a single $10.59 million liquidation on Binance’s BTCUSDC pair.

Futures markets remain volatile, with open interest holding NEAR $40 billion. The scale of short liquidations—accounting for 74% of the $301 million total—reveals persistent bearish bets against Bitcoin’s upward momentum. Long liquidations totaled $84.79 million, underscoring the market’s violent two-sided action.

Bitcoin’s Path to $110,000: $16B in Leveraged Shorts at Risk as Bulls Take Control

Bitcoin’s rally toward $110,000 appears increasingly inevitable as $16 billion in Leveraged shorts face liquidation at the $99,900 threshold. Institutional accumulation and bullish momentum suggest a potential short squeeze could propel BTCUSDT to new all-time highs.

Binance founder Changpeng Zhao has amplified the bullish sentiment, urging retail investors to enter the market now. His prediction of Bitcoin reaching $500,000 by year-end—and potentially $1 million in 2025—has added fuel to the speculative frenzy.

Exchange data reveals a precarious position for bears, with forced liquidations looming. market structure favors continuation, as spot buying pressure overwhelms derivative market resistance. The coming weeks may determine whether this liquidity cascade triggers the next parabolic phase.