Bitcoin’s Spectacular Surge: $687M Shorts Liquidated in a Blink! 💸💥

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Oh, the most successful asset of the last 15 years, Bitcoin, is once again proving that doubters are as useful as a chocolate teapot. 🍫🍵

In the last hour, a total of $687.22 million in Bitcoin shorts have been liquidated, according to the crypto data aggregator CoinGlass. Imagine a room full of short sellers, all suddenly finding themselves in a rather uncomfortable position, like a group of clowns in a shrinking hot air balloon. 🎈😂

The shorts have provided rocket fuel for a sudden move above $116,000. It’s as if Bitcoin decided to play a game of “let’s see how high we can go” and the answer is, apparently, “very high indeed.” 🚀

BTC began the day at around $111,000, and is up 4.7% in the last 24 hours. It’s like watching a sprinter break the tape at the Olympics, only this sprinter is wearing a digital cape. 🦸‍♂️💨

This week’s rally has placed BTC’s total value above tech giant Google, with only Amazon, Apple, Microsoft, Nvidia, and Gold remaining in front. It’s a bit like being the second-best wizard in Hogwarts, but hey, who’s counting? 🧙‍♂️📚

The rally also once again places BTC closer in line with M2 global liquidity, which measures the total money supply, including cash, checking deposits, and easily convertible near-money assets. It’s as if Bitcoin is saying, “I’m not just a digital asset; I’m a global phenomenon!” 🌍🔥

Although no one knows what’s next for Bitcoin, the pseudonymous macro analyst Martin Folb is sharing an updated map of BTC’s price against global liquidity. He tells his 219,000 X followers that BTC has officially moved past a key accumulation zone. 📈📊

“Wyckoff Accumulation is officially over. Distribution begins as price follows global liquidity to $125k on the way to $160k. I will be posting the next Wyckoff Distribution to Reaccumulation schematic in confirmation.”

Wyckoff Accumulation is a technical analysis pattern that strategically tracks an asset during an extended consolidation phase, using price and volume behaviors to identify when supply at lower prices is absorbed. It’s like watching a master chef slowly simmer a stew, knowing that the longer it cooks, the more delicious it will be. 🍲😋

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2025-07-11 01:21