<ul data-eligibleForWebStory="false"><li>Bitcoin reached a new all-time high triggering a cascade of liquidations from traders shorting the asset.</li><li>Over $480 million in short positions were liquidated in the last 24 hours, with Bitcoin contributing over $200 million.</li><li>106,930 traders had their positions wiped out, in the largest bear squeeze since May 6, with short positions comprising over 95% of all liquidations.</li><li>The sharp move not only flushed out overleveraged shorts but also reignited bullish momentum across the broader crypto market, leading to a spike in funding rates and a market capitalization gain of over $15 billion in a day.</li></ul>

$480M Liquidated in Crypto’s Biggest Bear Hunt Since May

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