$BTC Shorts Obliterated! Over $1B Liquidated as Bitcoin Soars to $118K

More than $655 million in $BTC #shorts were wiped out in the last 24 hours as #bitcoin skyrocketed past $118,000, triggering over $1 billion in total #Liquidations - marking the largest short squeeze of the year.

The bulk of the #Liquidations hit late on July 10 during U.S. market hours, with $BTC alone accounting for $655.46M. Remaining short liquidity stretches up to $118,800, suggesting more upside could be on the horizon.

After months of cautious trading, bears were blindsided as BTC broke out of its $55K consolidation range dating back to July 2024.

The rally steamrolled through weekly options expiry, sending a clear signal: #Bulls are back in full control.