#CryptoComeback #BTCBackto100K Bitcoin $BTC Surges Past $104K, Wiping Out $400M in Bearish Bets Amid ETF Inflows and U.K. Trade Deal
Bitcoin’s$BTC price surged past $104,000 in a sharp rally that liquidated nearly $400 million worth of bearish positions, signaling renewed optimism in the crypto market.
In the past 24 hours alone, Bitcoin$BTC climbed over 3% to reach around $102,500, briefly touching the $104K mark — its highest level since late January. The rally was triggered by two major developments: a new trade agreement between the U.K. and the U.S., and record-breaking inflows into Bitcoin spot exchange-traded funds (ETFs)$, which now exceed $40 billion.
This sudden price movement caught many traders off guard, especially those betting against Bitcoin. According to data from Coinglass, roughly $400 million worth of short positions — trades expecting Bitcoin to fall — were forcibly closed, making it one of the largest daily liquidations since last November. In contrast, only $22 million in long positions were liquidated.
The broader crypto market also saw a significant boost. The total market capitalization of all cryptocurrencies excluding Bitcoin jumped 10%, reaching $1.14 trillion — the highest it’s been since early March.
The massive wave of short liquidations indicates that many traders had taken highly leveraged bearish positions. When prices moved sharply upward, those positions were automatically closed by exchanges to prevent further losses, accelerating the rally even more.
This imbalance suggests that momentum may continue in Bitcoin’s favor, as the market digests positive sentiment and further ETF-driven demand.
