Bitcoin (BTC) Market Experienced Significant Liquidations, Totaling Around $566.78 Million

The crypto market experienced significant liquidations, totaling around $566.78 million, or about ₱31.47 billion, in the past 24 hours.

The crypto market has seen significant liquidations, amounting to approximately $566.78 million, or about ₱31.47 billion, in the past 24 hours. However, the majority of the short trade liquidations are logged in the last 4 hours as $BTC goes up to the $107,000 mark.

Liquidation Breakdown in the Last 24 Hours

Exchanges’ Impact in the Last 4 Hrs

$BTC Nearing ATH

As of today, May 19, 2025, $BTC is trading above $106,000, edging closer to its all-time high (ATH) of $108,786. Moreover, its trading volume hit $19 billion, with Binance leading the activity.

This upward momentum is fueled by significant inflows into U.S. spot $BTC ETFs, which have attracted $2.8 billion in May so far, pushing total assets past $122 billion.

In a report, it was highlighted that technical indicators are pointing to a possible surge toward $109,588 and even $130,000 if resistance is broken.

Analyst Willy Woo predicts $BTC will outperform nearly all traditional assets over the next 15 to 20 years, evolving into a mature macro store of value.

Moreover, JPMorgan also predicts $BTC will outperform gold in the second half of 2025, driven by surging ETF inflows, corporate adoption, and growing state-level crypto reserves. A reversal in investor flows were cited by some analysts, led by Nikolaos Panigirtzoglou, where $BTC is gaining as gold declines, with $BTC surpassing $100,000 amid outflows from gold ETFs.

On the other hand, a report noted that Panama City may have begun preparing to establish a Bitcoin reserve, following a meeting between Mayor Mayer Mizrachi and Bitcoin advocates Max Keiser and Stacy Herbert.

In addition, Abu Dhabi’s sovereign wealth fund, Mubadala, recently disclosed a $408.5 million investment in BlackRock’s iShares Bitcoin Trust.

Analysts suggest altcoins may be on the brink of their strongest rally since 2017, driven by rising market cap, bullish technical patterns, and U.S. money supply expansion.

While Bitcoin dominance remains high, early indicators, including the TOTAL3 breakout and growing investor optimism, signal that a full alt season could be approaching.

Moreover, U.S. President Donald Trump’s proposed 5% remittance tax may push millions to use cryptocurrency for cheaper, untaxed international money transfers.

Analysts note that self-hosted crypto wallets offer an appealing workaround as the bill does not cover them.