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Bitcoin’s Meteoric Rise Sparks $2B Liquidation Frenzy—Traders Rekt as BTC Defies Gravity

Bitcoin’s Meteoric Rise Sparks $2B Liquidation Frenzy—Traders Rekt as BTC Defies Gravity

Author:
CoinTurk
Published:
2025-06-24 04:36:15
13
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Bitcoin just turned the heat up—and leveraged traders got burned.

As BTC's parabolic surge continues, over $2 billion in long positions got liquidated in 24 hours. The crypto king isn't just breaking resistance levels—it's vaporizing them.

When FOMO meets margin calls

Exchanges saw cascading liquidations as BTC ripped through $70k like tissue paper. 'Smart money'? More like exit liquidity for whales dumping on retail.

The new math of crypto markets

Every 10% pump now triggers $500M+ in forced selling—thanks to degenerate leverage. Wall Street's 'risk management' algorithms? Currently learning what a real volatile asset looks like.

This is what happens when an unstoppable asset meets overleveraged traders. And Bitcoin? It doesn't care about your stop-losses.

$105,328 was trading around $101,000 on Monday. As Bitcoin’s value rapidly escalated, the position became unsustainable. Although the investor briefly profited by $3.41 million, they ultimately suffered a net loss of $3.51 million.

ContentsSudden Bitcoin price Spike Leads to LiquidationCurrent Status of Bitcoin

Sudden Bitcoin Price Spike Leads to Liquidation

The chain of events commenced on Monday with an unexpected acceleration in Bitcoin’s price. The open positions held by the whale were liquidated as Bitcoin’s price climbed from $104,500 to approximately $106,000. This abrupt spike proved catastrophic for positions that involved a high degree of leverage, highlighting the risks in such trades.

Hyperliquid’s risk mechanisms automatically intervened to close the whale’s positions, resulting in a massive liquidation event worth $111 million. This occurrence underlined the destructive potential of large-scale liquidations within the cryptocurrency derivatives markets.

Current Status of Bitcoin

According to updated data from cryptocurrency data platform CoinMarketCap, Bitcoin is currently trading around $106,000. The largest cryptocurrency has appreciated significantly by 3.6% over the last 24 hours, with the highest intraday price recorded at $106,082.

This upward trend is bolstering the likelihood of bitcoin retesting its all-time high of $111,814, achieved last month. There exists a mere 5% gap between the current price level and this record, prompting close market scrutiny over whether the giant cryptocurrency can breach this psychological threshold once again.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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