---
title: "$500M in Shorts Liquidated as Bitcoin (BTC) Blasts Above $101K"
url: https://diffcoin.com/500m-in-shorts-liquidated-as-bitcoin-btc-blasts-above-101k/
description: "Over 140,000 traders were liquidated over the past 24 hours."
published: 2025-05-08
updated: 2025-05-08
author: "Mila"
site: "Diffcoin"
---

# $500M in Shorts Liquidated as Bitcoin (BTC) Blasts Above $101K

It almost felt inevitable today that bitcoin will eventually break past the coveted $100,000 milestone and after a brief hesitation, the asset has soared to a new multi-month peak above $101,000.

The altcoins have followed suit with massive price gains from the likes of PEPE, SUI, FARTCOIN, and many others.

![BTCUSD. Source: TradingView](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxODM1IDgxOSIgd2lkdGg9IjE4MzUiIGhlaWdodD0iODE5IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNSUyRjA1JTJGQlRDVVNELTkucG5nIiBkYXRhLXc9IjE4MzUiIGRhdGEtaD0iODE5IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

BTCUSD. Source: TradingView

*CryptoPotato* reported earlier today that BTC had risen to $99,700 amid reports that China and the US will have talks later this week in Switzerland in regards to striking a tariff deal. Later, Trump teased a big announcement for tomorrow that will involve the UK.

BTC stood close to the six-digit entry territory for almost the entire day and was stopped there at first. However, the asset flew past it an hour ago and kept surging to a new three-month peak of over $101,000.

Recall that just a month ago the primary cryptocurrency struggled below $80,000 and even dumped to a 2025 low of under $75,000 amid the darkest hours of the Trade War.

Now, though, bitcoin’s realized cap has marked another all-time high, while the break above $100,000 could be different than previous such increases.

VIRTUAL and PENGU lead the daily gains from the top 100 alts, with price surges of 36% and 33%, respectively. PEPE, SUI, and FARTCOIN follow suit by charting 20-25% daily jumps.

Even Ethereum has soared by double digits in the past 24 hours, and managed to break past $2,000 for the first time in well over a month.

The total value of liquidations on a daily scale is up to $580 million, according to CoinGlass. The majority, expectedly, comes from short positions (almost $500 million). The total number of wrecked trades is above 145,000.

![Liquidation Heat Map. Source: CoinGlass](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMzYyIDQ1NiIgd2lkdGg9IjEzNjIiIGhlaWdodD0iNDU2IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNSUyRjA1JTJGU2NyZWVuc2hvdC0yMDI1LTA1LTA4LTIwMDEzMi5wbmciIGRhdGEtdz0iMTM2MiIgZGF0YS1oPSI0NTYiIGRhdGEtYmlwPSIiPjwvc3ZnPg==)

Liquidations Heat Map. Source: CoinGlass

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[Source link](https://cryptopotato.com/500m-in-shorts-liquidated-as-bitcoin-btc-blasts-above-101k/)