- Overnight between July 17 and 18, the price of Bitcoin crossed the $120,000 mark.
- As a result, the total value of liquidations in the market reached $812.7 million.
- Most of these losses were incurred by traders holding short positions, totaling $483 million.
Bitcoin surged overnight between July 17 and 18, 2025, briefly crossing the $120,000 mark and reaching a high of $120,998. According to TradingView, this move represented a daily gain of 2.5%. Most altcoins followed suit with notable increases, including XRP, which set a new all-time high of $3.65.
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. This wave of liquidations signals just how volatile and high-stakes leveraged trading can become during sharp rallies and market upheaval.
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. Notably, this intense market action attracted both new entrants and institutional investors seeking exposure to the ongoing crypto bull run.
Amid the surge in cryptocurrency prices, total crypto market capitalization surpassed the $4 trillion mark for the first time, setting a new historic record. This level nearly matches the valuation of Nvidia—the world’s most valuable public company—which stood at nearly $4.2 trillion as of July 18, 2025.
