Bitcoin (BTC) Price Surges Past $100K, Short Sellers Liquidated $970M

Following the recent surge of Bitcoin past the $100,000 mark, short sellers experienced significant liquidations totaling

Following the recent surge of Bitcoin (BTC) past the $100,000 mark, short sellers experienced significant liquidations, amounting to approximately $970 million, or about ₱54.1 billion, according to data from CoinGlass.

The liquidations occurred in the last 24 hours across various cryptocurrency exchanges, including Binance, Huobi, and FTX, as BTC price movements triggered a cascade of losses for those who bet against the digital asset.

Liquidation Breakdown in the Last 24 Hrs

According to CoinGlass, the total liquidations across major exchanges reached $970 million, with the majority being short traders on Binance, liquidations on which reached $730 million.

Out of the total liquidations, $966 million were in BTC, showcasing the dominant role of the flagship cryptocurrency in the market. A smaller portion, $4 million, were in ETH liquidations.

Exchanges’ Impact

Among the exchanges, Binance saw the highest liquidation volume with $730 million, followed by Huobi with $110 million and FTX with $90 million. These exchanges are popular among traders in the Philippines who prefer Binance especially for its user interface in Tagalog language.

The liquidations come as BTC price experienced a significant surge, driven by a combination of macroeconomic factors, renewed institutional demand, and geopolitical developments.

On May 9, 2025, BTC’s price surged past $103,000 after holding the $90,000 level for days. The surge was fueled by a report from Bloomberg, later corrected, that the U.S. had reached a debt ceiling agreement.

The news triggered a buying spree among traders, leading to BTC price testing the $105,000 mark briefly before settling around $101,000.

Bitcoin at $100K Mark

The $100,000 price point for BTC is a milestone that has been anticipated for years, with some cryptocurrency analysts and traders setting price targets even higher.

The figure is also significant in the context of BTC’s previous all-time high (ATH) of $105,000, which occurred in March 2024 during the previous bull market cycle.

The new ATH reached in May 2025 surpasses the previous peak, indicating the potential for further gains as the bull market progresses.

This article is published on BitPinas