Bitcoin’s $5.5K Surge Triggers Massive Liquidations: Over $500M Wiped Out
Bitcoin’s dramatic price surge from $88,000 to over $93,500 has led to significant market liquidations, with over $500 million in short positions wiped out in the past 24 hours. This marks the largest liquidation event since October, highlighting the volatility and bullish momentum in the cryptocurrency market.
Bitcoin’s $5.5K Surge Causes Major Liquidations
Bitcoin’s recent price jump from $88,000 to over $93,500 triggered significant liquidations in the market. In the past 24 hours, over $500 million in short positions were liquidated, marking the biggest wipeout since October. Bybit saw the most liquidations at $234 million, followed by Binance at $100 million and Gate at $70 million. The surge led to daily market losses reaching $500 million as traders who had shorted Bitcoin faced massive liquidations due to the unexpected price increase.
Bitcoin New Supply Surge as Long-Term Holders Resume Buying
Bitcoin has reclaimed the $91,000 mark, sparking renewed interest from investors. After months of bearish pressure, long-term holders are now reentering the market, accumulating BTC as the asset surges. This accumulation is evident as Bitcoin experiences notable upward movements, indicating a potential bullish trend.
Bitcoin Marches toward $96K Resistance, Eyes $100K
Bitcoin, the top crypto asset, has recently seen a significant price surge. According to crypto analyst Axel Adler Jr., Bitcoin is currently facing resistance at the $96,000 mark and has $100,000 as its next price target. Adler Jr. shared his insights on social media, noting that once Bitcoin breaks through the $96,000 resistance, held mainly by investors who have been holding coins for 3-6 months, the path to $100,000 will be open. This is a crucial moment for Bitcoin’s near-term movement.
3 Profitable Cryptocurrency Coins to Invest In 2025
The cryptocurrency market is currently experiencing significant price fluctuations due to the US tariff issues initiated by President Donald Trump. Despite this pressure, certain coins are performing well and are expected to gain further by 2025. One of these is Bitcoin (BTC), which is emerging as a leading macro asset and is often compared to digital gold. BTC is poised to hit $143K in the future, making it a strong investment option.
Bitcoin Demand Signals Improve, But Bearish Conditions Persist
After over two months of market correction, Bitcoin’s on-chain metrics are flashing positive signals again. According to CryptoQuant’s weekly report, the decline in Bitcoin’s apparent demand is slowing down, with a decrease of 146,000 BTC in the last 30 days compared to a plunge of 311,000 BTC on March 27. While the negative momentum in demand persists, it has intensified at a slower rate. Crypto liquidity growth is also expanding, indicating potential improvements in market sentiment. However, bearish conditions continue to affect the market.
Whale Buying Pressure Pushes Bitcoin Higher on Binance and Coinbase
Bitcoin has surpassed the $90,000 mark, a move closely tied to strategic purchases by whales on Binance. Similar positive trends are observed on Coinbase, with whales driving the market higher. CryptoQuant data reveals that each price increase correlates with large-scale whale purchases on Binance. Despite recent bearish sentiment, Bitcoin and altcoins have shaken off retail investors and are in an oversold condition.
