From July 17 to 18, 2025, Bitcoin's price surged past $120,000, marking new records in the market.
Overview of Bitcoin's Price Surge
On the night of July 17 to 18, 2025, Bitcoin’s price first surpassed $120,000, reaching a peak of $120,998. According to TradingView, this represents a daily gain of 2.5%. Most altcoins also exhibited notable growth, including XRP, which set a new all-time high of $3.65.
Value of Liquidations in the Crypto Market
As a result of this rapid market movement, the total value of liquidations in the crypto market over the past 24 hours reached $812.7 million, according to CoinGlass. The majority of losses impacted traders holding short positions—$483 million—while those with long positions lost $329.7 million.
Historical Records and Market Events
The largest single liquidation occurred on the Binance exchange, where a position worth nearly $51 million was forcibly closed. In total, 174,391 traders had positions liquidated across the market during the same 24-hour period, underscoring the significant impact the rally had on investor portfolios and margin accounts. The top three platforms by total liquidation losses were Binance, Bybit, and OKX. By asset, Ethereum led liquidations with $238 million, followed by Bitcoin with $146 million, and XRP with $102.5 million.
The surge in cryptocurrency prices also led to a total crypto market capitalization surpassing the $4 trillion mark for the first time, setting a new historic record.
