#BinanceTurns8 Bitcoin

BTC

$117,521.36

blew past $118,000, resulting in the biggest bloodbath of the year for leveraged bears.

In the past 24 hours, over $1.13 billion in positions were liquidated, with a staggering $1.01 billion of that coming from short sellers, marking the largest short-side wipeout of 2025 so far.

Open interest on BTC-tracked futures rose $2 billion in the past 4 hours with the long-short ratio skewed in favor of bullish bets at 52%, indicative of rising bets on further increases.

The move was led by bitcoin

BTC

$117,521.36

futures, which triggered $590 million in liquidations, followed by ether futures at $241 million.