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Bitcoin Hits $118K, Resulting in Over $1 Billion in Liquidations

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by Giorgi Kostiuk

7 hours ago


On July 10, 2025, a significant price increase in the cryptocurrency market led to record liquidations of trading positions.

Overview of Liquidations

According to Coinglass data, July 10 marked the most intense short squeeze of 2025, resulting in over 261,000 traders being liquidated with an overall total of $1.24 billion. Almost all liquidations were associated with short positions.

Liquidations by Exchanges

The single largest liquidation was an $88.5 million BTC/USDT short position on HTX. Bybit led in total liquidations at $291 million, followed by HTX ($133M), Gate ($71.8M), OKX ($54.6M), and Binance ($54.5M).

Market Trends

The market pressure wasn’t limited to Bitcoin. Ethereum surged 7%, leading to $149 million in short liquidations. Along with other cryptocurrencies such as Solana and XRP showing over 4% gains, the total short liquidations in the top five cryptocurrencies reached $720 million.

The rising prices of Bitcoin and other cryptocurrencies indicate a strong bullish trend in the market, significantly impacting bearish traders.

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