$120 million in crypto shorts obliterated as Bitcoin smashes past $119,000 ATH

Bitcoin’s (BTC) surge to $119,370 has triggered $123.19 million in short liquidations across major crypto exchanges.

finbold.com

TL;DR

Bitcoin just blasted through its previous ceiling to hit $119,370, triggering a whopping $123 million in short liquidations over the past day. Binance bore the brunt with $43 million wiped out, followed by Bybit ($37 million) and OKX ($15.7 million). BTC shorts alone accounted for $34 million of the carnage, with ETH ($22 M), XRP ($5.6 M) and SOL ($2.6 M) also taking hits as traders got squeezed by the surge.

Looking ahead, BTC is wrestling with a key resistance zone around $119–120k. If it breaks above, eyes are on $135–140k; if not, we could see a pullback into the $114–115k range. It’s trading near $118.7k right now, and with an RSI at 72, a bit of consolidation or a small correction wouldn’t be a shock.