Bitcoin’s $103K Surge Wipes Out $900M: Is This Crypto’s Wildest Rally Yet?
Bitcoin blasts past $103K, triggering $900M in liquidations as altcoins soar. Is this the start of a massive crypto bull run? Dive in!
Bitcoin (BTC) has skyrocketed to $103,000, sparking a frenzy that liquidated $900 million in crypto positions in just 24 hours, as reported on May 8, 2025. The rally, fueled by easing U.S. tariff fears and massive ETF inflows, saw Bitcoin climb from a $76,000 low in April, with altcoins like Ethereum (ETH), Solana (SOL), and XRP posting gains of 10-20%. Over $700 million in short positions were wiped out, marking one of the largest short squeezes this year.
What’s Happening?
The crypto market cap surged to $3.2 trillion, driven by Bitcoin’s breakout above $100,000, a level not seen since February 2025. According to CoinGlass, Bitcoin accounted for $400 million of liquidations, followed by ETH at $180 million. Institutional buying, including $3.06 billion in spot Bitcoin ETF inflows, and a 79% hashrate increase by miners like Hut 8, bolstered the rally.
The crypto market cap surged to $3.2 trillion, driven by Bitcoin’s breakout above $100,000, a level not seen since February 2025. According to CoinGlass, Bitcoin accounted for $400 million of liquidations, followed by ETH at $180 million. Institutional buying, including $3.06 billion in spot Bitcoin ETF inflows, and a 79% hashrate increase by miners like Hut 8, bolstered the rally.
Why It Matters
This rally signals Bitcoin’s resilience as a hedge against economic uncertainty, with the U.S. dollar down 9% this year. Altcoins are riding the wave, with ETH hitting $2,188 and SOL nearing $150. However, the $900 million liquidation highlights the market’s high leverage—shorts betting against BTC were crushed, but volatility could trigger pullbacks. If Bitcoin falls below $91,594, $44.95 million in long positions risk liquidation. The rally’s sustainability depends on continued ETF flows and global trade stability.
This rally signals Bitcoin’s resilience as a hedge against economic uncertainty, with the U.S. dollar down 9% this year. Altcoins are riding the wave, with ETH hitting $2,188 and SOL nearing $150. However, the $900 million liquidation highlights the market’s high leverage—shorts betting against BTC were crushed, but volatility could trigger pullbacks. If Bitcoin falls below $91,594, $44.95 million in long positions risk liquidation. The rally’s sustainability depends on continued ETF flows and global trade stability.
What’s Next?
Analysts see Bitcoin testing $105,000-$110,000 if momentum holds, with ETH potentially reaching $3,000. Yet, tariff tensions with China or a stock market dip (Bitcoin’s 0.65 correlation with the S&P 500) could spark a correction to $88,000. Miners and ETF investors will be key to watch.
Analysts see Bitcoin testing $105,000-$110,000 if momentum holds, with ETH potentially reaching $3,000. Yet, tariff tensions with China or a stock market dip (Bitcoin’s 0.65 correlation with the S&P 500) could spark a correction to $88,000. Miners and ETF investors will be key to watch.
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NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
