According to Coinglass data, in the past 24 hours, a total of 200,665 people have been liquidated globally, with a total liquidation amount of $973 million.

In the first half of 2025, the cryptocurrency market has experienced ups and downs. After a three-month period of volatility, Bitcoin finally broke through the $100,000 mark in the early hours of May 9, returning to a high of $104,000 after 98 days. This not only marks a rebound in market confidence but also reflects the complex interplay of macro policies, institutional entry, and market sentiment. This article will analyze the driving forces behind this round of increases and future trends, combining the latest market data and dynamics.