The crypto market experienced significant liquidations, totaling around $566.78 million, or about ₱31.47 billion, in the past 24 hours. However, the majority of the short trade liquidations are logged in the last 4 hours as $BTC goes up to the $107,000 mark.
- In the past 24 hours, $ETH led the liquidations with $221.54 million, primarily from long positions, while $BTC followed with $132.60 million, mostly from short trade liquidations.
- Among meme coins, $MOODENG saw $17.61 million in short liquidations, while $DOGE and $1000PEPE recorded $15.06 million and $8.45 million in long liquidations, respectively.
- Altcoins such as $SOL, $XRP, and $SUI also experienced long liquidations, totaling $15.6 million, $8.17 million, and $6.19 million, respectively.
Liquidation Breakdown in the Last 24 Hours
- Total Traders Affected: 134,887
- Largest Single Liquidation: $8.21 million $ETH-$USDT trade on crypto exchange HTX
- Long Positions: $340.45 million in liquidations
- Short Positions: $226.52 million in liquidations
Exchanges’ Impact in the Last 4 Hrs
- Bybit: $37.02 million (68.71% short positions)
- Binance: $27.84 million (73.18% short positions)
- OKX: $23.86 million (72.01% short positions)
- Gate.io: $12.25 million (70.74% short positions)
- HTX: $10.63 million (51.75% long positions)
- CoinEx: $965,950 (80.03% short positions)
- Bitmex: $169,540 (98.76% short positions)
- Bitfinex: $213.04 (100% short positions)
$BTC Nearing ATH
As of today, May 19, 2025, $BTC is trading above $106,000, edging closer to its all-time high (ATH) of $108,786. Moreover, its trading volume hit $19 billion, with Binance leading the activity.
This upward momentum is fueled by significant inflows into U.S. spot $BTC ETFs, which have attracted $2.8 billion in May so far, pushing total assets past $122 billion.
In a report, it was highlighted that technical indicators are pointing to a possible surge toward $109,588 and even $130,000 if resistance is broken.
- Some traders have raised their year-end target to $200,000, citing institutional demand and potential seller exhaustion.
Bullish on Bitcoin
Analyst Willy Woo predicts $BTC will outperform nearly all traditional assets over the next 15 to 20 years, evolving into a mature macro store of value.
Moreover, JPMorgan also predicts $BTC will outperform gold in the second half of 2025, driven by surging ETF inflows, corporate adoption, and growing state-level crypto reserves. A reversal in investor flows were cited by some analysts, led by Nikolaos Panigirtzoglou, where $BTC is gaining as gold declines, with $BTC surpassing $100,000 amid outflows from gold ETFs.
On the other hand, a report noted that Panama City may have begun preparing to establish a Bitcoin reserve, following a meeting between Mayor Mayer Mizrachi and Bitcoin advocates Max Keiser and Stacy Herbert.
- The initiative is expected to leverage the city’s hydroelectric power for Bitcoin mining, hinting at Panama’s potential step toward broader national crypto adoption.
In addition, Abu Dhabi’s sovereign wealth fund, Mubadala, recently disclosed a $408.5 million investment in BlackRock’s iShares Bitcoin Trust.
- As of March 31, 2025, Mubadala held 8.7 million shares, up from 8.2 million at the end of 2024.
Will Crypto Market Surge?
Analysts suggest altcoins may be on the brink of their strongest rally since 2017, driven by rising market cap, bullish technical patterns, and U.S. money supply expansion.
While Bitcoin dominance remains high, early indicators, including the TOTAL3 breakout and growing investor optimism, signal that a full alt season could be approaching.
Moreover, U.S. President Donald Trump’s proposed 5% remittance tax may push millions to use cryptocurrency for cheaper, untaxed international money transfers.
Analysts note that self-hosted crypto wallets offer an appealing workaround as the bill does not cover them.
This article is published on BitPinas: Massive ₱31.47 Billion in Crypto Liquidations in 24 Hours as Bitcoin Climbs to $107,000
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