#BitEagleNews 📰 Bitcoin Rockets Past $118K, Leads to Over $1B Shorts Getting Liquidated
📅 Date: July 11, 2025
✍️ By: Crypto Desk
🚀 Bitcoin (BTC) has once again stunned the crypto world by soaring past $118,000, reaching a new all-time high, and triggering a massive wave of short liquidations worth over $1.02 billion in just 24 hours.#BinanceTurns8
According to data from CoinGlass, this sharp upward move liquidated more than 285,000 traders, with the majority of losses coming from traders who were betting against the market. The largest single liquidation occurred on Binance with a $12.7M BTC short.
🔍 Why is Bitcoin Surging?
Experts point to several key drivers behind this historic surge:
✅ Institutional inflows continue to grow, led by major investment firms and pension funds.
✅ The U.S. economy’s weakening inflation has boosted risk asset appetite.
✅ Growing anticipation of Bitcoin ETF expansion in Asian markets.
✅ Increasing adoption by major tech platforms accepting BTC for payments.
📊 Market Impact:
Ethereum (ETH) followed suit, rising to $6,500.
XRP, Solana, and Cardano also posted 8-12% daily gains.
The total crypto market cap now sits above $4.5 trillion.
💬 Analyst Take:
> “This is a short squeeze of historic proportions,” said crypto analyst David Lin. “With spot ETF demand and on-chain metrics strengthening, Bitcoin’s next leg could take it toward $125K.”
🌐 Social Media Buzz: Crypto Twitter erupted with hashtags like #Bitcoin118K, #CryptoBullRun2025, and memes celebrating “rekt bears.”
📈 What’s Next? With bullish momentum, low exchange reserves, and institutional demand climbing, analysts say the $120K–$125K zone could be tested within days, barring any macroeconomic shocks.
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📣 Disclaimer: Crypto assets are highly volatile. Invest wisely and do your own research (DYOR).