Crypto Shorts Get Screeched As Bitcoin Roars Back to $116K (and Nobody’s Safe!) 🔥🚀

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It appears that the crypto market decided to indulge in a bit of dramatic therapy, with short sellers suffering a rather embarrassing liquidation session as Bitcoin staged what can only be described as a remarkably spirited comeback. This week, nearly $360 million worth of “bet against the ride” trades evaporated faster than your hopes during a market dip.

Bitcoin and Ethereum Crack the Joyful Morning Hour

Just twelve hours ago, Bitcoin and friends performed the digital equivalent of a sudden, celebratory leap, breaking free from their recent doldrums. Bitcoin humorously skipped past the even more ambitious $116,000 mark-perhaps inspired by the latest episode of financial chaos-while Ethereum threw its hat in the ring at $4,250, pretending it’s the new big dog. Since then, they’ve cooled their jets, like teenagers after a day of too much fun, retreating slightly but still showing impressive gains of about 4% for Bitcoin and 3.4% for Ethereum over the past week. Outliers such as Tron are sulking, down over 7%, because apparently, everyone can’t be a winner all the time.

Bitcoin’s recent chart

The latest trajectory of Bitcoin suggests a rollercoaster of hope and mild disappointment, but let’s not dismiss the show-it’s better than most sitcoms. This rally has managed to wipe out a substantial chunk of the market’s short-term gamblers, many of whom are now looking at their losses and contemplating a career change.

Liquidations-The Digital Bloodbath that Keeps on Giving

According to the ever-reliable CoinGlass, about $467 million in derivatives contracts have been liquidated in the past day alone. For the uninitiated, liquidation refers to the exchange forcibly closing down trades when the losses hit a predefined limit-kind of like the market’s way of giving a gentle (or not-so-gentle) shove. Most of these liquidations are from shorts-bets that cryptocurrency prices would fall-which, in a cruel twist of irony, have been crushed under the weight of last night’s rebound.

Liquidation Data

In an epic showdown, $358 million of these contracts are shorts, making up approximately three-quarters of the entire sector’s liquidation chaos. Bitcoin led the charge with $177 million, Ethereum valiantly followed at $130 million, and Solana-who perhaps thought it was safe-got caught in the crossfire with a $34 million loss. It’s a postseason playoff of digital carnage, really.

Liquidation Breakdown

On a brighter note, Bitcoin spot ETFs have been enjoying a little financial party lately. CryptoQuant’s Maartunn reports a hefty inflow of $4.7 billion into these vehicles over the past month, as Uncle Sam finally decided, “Why not?” to ETF approvals-first for Bitcoin, then Ethereum-meaning a lot of people prefer not to hold the actual coins but still want some skin in the game.

The chart above reveals that the latest month has seen a flurry of inflows, like a crowded nightclub with everyone trying to get in before the bouncer-aka the SEC-closes it again. Ethereum’s ETF inflows, while still impressive at nearly $1 billion, look more like a humble brunch compared to Bitcoin’s lavish feast.

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2025-10-28 05:11