Shorts Obliterated: $539M Liquidation Tsunami as Bitcoin Shatters ATH
Bitcoin just napalmed the bears—again.
As BTC punches through its all-time high, leveraged short positions got vaporized in a $539 million bloodbath. The crypto market, ever the gladiatorial arena, served another brutal reminder: bet against the orange coin at your peril.
### The Reckoning
Liquidation algorithms went into overdrive as Bitcoin’s rally turned into a short-squeeze inferno. Traders who gambled on a pullback watched their positions disintegrate faster than a shitcoin’s promises.
### Wall Street’s Tiny Violins
Meanwhile, traditional finance pundits—still waiting for that ‘regulated ETF’ to save them—are left scribbling furious notes about ‘irrational exuberance.’ Spoiler: the market doesn’t care.
Bitcoin cuts through resistance like a hot wallet through weak passwords. And the cycle continues.
Table showing the 24-hour liquidation data across exchanges on July 10, 2025 (Source: CoinGlass)
HTX saw the largest single liquidation of the day, a $51.56 million BTC-USDT short. Binance and Bybit followed closely behind in total notional wiped out, each seeing well over $100 million in combined long and short liquidations. Still, the overwhelming volume came from bears.
The impact wasn’t limited to Bitcoin. ethereum saw $156.492 million in liquidations, and assets like XRP and SOL were also caught in the move, showing that the rally had broad participation across large-cap altcoins. Overall, data from CoinGlass showed more than 118,800 traders were liquidated.
Long-side losses were relatively modest. Only $68.92 million in longs was liquidated, mainly due to smaller corrections earlier in the day and tight stop placements.
