$BTC Huge Liquidations Hit the Crypto Market – Short Sellers Crushed Overnight

What Just Happened?

The crypto market saw a massive shake-up last night. Over $530 million worth of trades were wiped out in just a few hours. Out of this, around 88% were short positions—traders who were betting that prices would fall. In total, more than 115,000 traders were liquidated. The biggest hit? A huge $51.5 million BTC/USDT position vanished as Bitcoin broke above $112,000, catching most bears off guard.

Why Did This Happen?

Bitcoin Breakout: BTC jumped sharply, pushing through major resistance levels with ease. Once it crossed $110,000, a wave of stop-losses was triggered, adding more fuel to the rally.

Dovish Fed: Recent comments from the U.S. Federal Reserve suggested they may slow down rate hikes.