Bitcoin Price Surges to $104,000, Liquidating Nearly $400 Million in Shorts
Bitcoin's price increased over 3% to $102,500 in 24 hours, reaching a peak of $104,000, the highest since January 31. This surge followed President Trump's announcement of a trade deal with the U.K. and record inflows into spot ETFs exceeding $40 billion.
The broader market also saw gains, with total market cap (excluding BTC) rising by 10% to $1.14 trillion, the highest since March 6.
- Nearly $400 million in BTC short positions liquidated, the highest single-day total since November.
- $22 million in long positions also liquidated.
- Indicates heavy bearish leverage; rapid short liquidations suggest potential for further market upside.