$SOL

Bitcoin is breaking records again! $117,000 is just the beginning

Bitcoin has just broken the $117,000 mark and within 24 hours

it has gained 5%, while bears witnessed the liquidation of short positions worth

more than a billion dollars. Betting against BTC is simply

dangerous.

The price of Bitcoin is rising and has reached a new all-time high of around $117,000.

Thanks to this latest development, BTC has increased by 5.4% in the last 24 hours and by more than 7.4% in the last seven days (as of 7 AM) with a huge daily trading volume of $50 billion.

In the last 24 hours, more than $1.13 billion in speculative positions have also been liquidated.

Of that astonishing $1.01 billion came from short sellers, which represents the largest liquidation of short positions in 2025 so far.

This movement was led by Bitcoin futures, which triggered liquidations worth $590 million, followed by ether futures worth $241 million.

Current Bitcoin price development

A total of approximately 237,000 traders were liquidated, with

the largest hit being the BTC-USDT short position worth $88.5 million on HTX.

The scale and imbalance of liquidations – nearly 90% of all positions were short – show how aggressively traders were betting against the rally.

Most of the damage was absorbed by cryptocurrency exchanges Bybit, Binance, and HTX. Bybit alone recorded liquidations totaling $461 million, with more than 93% attributed to short positions.

They were followed by exchanges Binance and HTX, which recorded liquidations of $204 million and $193 million, respectively.

In addition to Bitcoin, other significant cryptocurrencies are also doing well.

Liquidations of short positions occur when traders borrow

capital to bet against rising prices and are then forced to close positions

when the market moves against them.

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