- Bitcoin’s surge near $112K triggered $500M in short liquidations, with Binance leading and market volatility hitting peak levels.
- Whale trader James Wynn closed his $1B short position with a $15.87M loss but still secured a $25M profit, exiting at $107K.
- Long liquidations intensified above $106K, signaling trader fatigue as Bitcoin approached resistance between $106K and $117K.
Bitcoin’s recent rally toward $112,000 triggered massive short liquidations across major crypto exchanges. Whale trader James Wynn exited his high-leverage short bet with a $15.87 million loss. Despite this setback, he still closed his trading journey with a $25 million net profit. The market reacted sharply, clearing over $500 million in short positions and driving increased volatility.
Wynn’s leveraged trades once peaked at $87 million in profit. However, as Bitcoin surged past $107,000, cascading liquidations followed. His exit came just as the market began liquidating billions in shorts. Simply Bitcoin reported that $8.5 billion in shorts could be wiped out if Bitcoin hits $115,000. Hence, traders now face mounting risks as BTC continues its upward momentum.
Exchanges Show Massive Liquidation Disparities
Binance showed the highest liquidation volumes across all trading ranges. The exchange dominated both long and short liquidations consistently. Orange bars in the data highlighted Binance’s overwhelming influence. OKX came in second with moderate volumes, while Bybit contributed the least.
Short liquidations were most intense between $95,842 and $104,467. Red zones on the chart reflected this activity, especially around $104,467. This area saw the highest volume of closed short positions, peaking at $563.51 million. Consequently, many traders exited their positions under heavy market pressure.
Long Liquidations Rise as Prices Climb
Moreover, long liquidations picked up steam after the $106,192 level. Blue areas indicated these losses as Bitcoin moved toward higher price zones. The upper range from $106,192 to $117,232 saw increasingly aggressive long position closures. This signaled strong resistance and possible trader exhaustion.
Source: Simply Bitcoin(X)
Additionally, Binance maintained its lead across this range. OKX’s influence remained steady, while Bybit’s impact remained minimal. Hence, exchange dominance stayed consistent throughout the volatile price action.
The liquidation pattern revealed intense fear-driven selling followed by forced closures. Besides that, the current price of $107,412 sits within a high liquidation risk zone. Market sentiment remains mixed, and positions remain vulnerable to price surges.
