Bitcoin Short Squeeze Incoming? $635M Vanishes in 24 Hours!

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Ah, the cryptocurrency market — ever the realm of chaos and fortune, where one can lose their shirt, shoes, and dignity in the blink of an eye. In the past 24 hours, a glorious symphony of liquidations struck the market, with a staggering $635.9 million evaporating like a mirage in the desert. The most tragic part? Over $560 million of this sum came from poor souls who dared bet against the rising tide — the short positions. Alas, their loss was the market’s gain, as the pressure mounted on the bears like a steamroller on a hot day.

And speaking of poor decisions, let’s talk about Bitcoin, the great puppet master of the crypto world. With a delightful surge past $94,000, Bitcoin obliterated $293 million worth of short positions, sending bears into a state of panic. Within a single day, the coin saw a 6.29% gain — for those counting, that’s quite the jump. Who knew the $100K dream wasn’t as far off as we thought?

Not to be outdone, Ether (ETH) decided to join the party, with over $109 million in short positions wiped off the map as its price skyrocketed by nearly 10%, reaching a cool $1,787. What a time to be alive, eh?

Now, let’s talk about the king of liquidations. Binance. In just four hours, $18.7 million worth of traders felt the wrath, and, surprise, surprise, most of it came from short positions. Bybit and OKX also joined the liquidation parade, with volumes that had us all wondering if it was “Sell Everything Day” in the crypto world.

Crypto Liquidation Chart

Trader Says Bitcoin Liquidity Is Gathering at $100,000 – Brace for Impact!

As the market twists and turns like a soap opera plotline, crypto analyst Mister Crypto (because who else could predict such madness?) has made a bold proclamation. According to Mister Crypto, liquidity is “piling up around $100,000” for Bitcoin. Sounds like a prophecy, right?

In a recent post on X, our fearless analyst warned that bears are, shall we say, “freaking out.” A short squeeze might just be on the horizon, and it could propel Bitcoin straight into the six-figure club. Get ready, folks. A short squeeze, for the uninitiated, occurs when the price rockets up, forcing the pessimistic traders to close their positions, which in turn fuels even more upward momentum. It’s a cycle of delicious chaos!

Mister Crypto further shared a Binance BTC/USDT Liquidation Heatmap, showing that a massive amount of Bitcoin trading activity is gearing up around the $100,000 level. Translation: If Bitcoin hits that mark, traders who are holding their breath will likely have their positions triggered. The question remains, will the market hold its breath until then?

BTC Liquidation Heatmap

Bitcoin’s recent surge to a 45-day high above $94,000 on April 23 has turned the market into a frenzy. Currently, Bitcoin is trading at $94,236, a healthy 6% gain over the last 24 hours. Could the $100K mark be on the horizon? Who can say?

Not Everyone’s All In On The $100,000 Dream

Ah, but not everyone shares the same optimism. There are always the skeptics in every crowd. Some people — let’s call them “the party poopers” — believe that Bitcoin might not hit the magical $100,000 mark anytime soon. Vincent Liu, the chief investment officer at Kronos Research, isn’t quite so certain. According to him, Bitcoin’s rise to $94K has sparked global optimism, but a clear path to $100K is, as of now, as elusive as a unicorn. He’s got his eyes on a few key factors that could determine whether Bitcoin gets its groove on or stays stuck in the mud.

“Cleared tariffs and potential Fed rate cuts could ignite further momentum, while rate hikes or unresolved tensions may keep BTC range-bound. US monetary policy will be pivotal in determining if Bitcoin reaches this milestone.”

So there you have it, folks. The drama continues, and the stakes couldn’t be higher. Will Bitcoin keep soaring, or will the bears have their day? Only time will tell, and we’ll all be here for the ride, popcorn in hand. 🍿

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2025-04-23 13:45