Following a relatively boring Friday and Saturday, bitcoin\u2019s price went on the offensive on Sunday evening and shot up to its highest level since the end of January at $106,000.<\/p>\n
However, the bears were quick to step up at this point, and the asset plunged by two grand in an instant.<\/p>\n Recall<\/a> our Market Watch from this morning, which informed that BTC had returned to familiar ground at around $104,000 after a brief dip below $103,000, which allowed an anonymous whale to open a massive long position<\/a> worth nearly $400 million on Hyperliquid.<\/p>\n Live data from CoinGlass indicates that the large market participant has closed a portion of his position, which is now worth a more modest $337 million.<\/p>\n This transpired in the past few hours, during which BTC\u2019s price quickly pumped from $104,000 to a multi-month peak at $106,000, where it faced a violent rejection and was pushed south to its starting point within minutes.<\/p>\n The total value of wrecked positions has risen to almost $280 million on a daily scale, with the majority of that taking place in the past 12 hours.<\/p>\n BTC short positions actually have the second-biggest share of the pie, as ETH longs dominate with over $80 million.<\/p>\n More than 90,00 traders have been wrecked in the past day, while the single-largest liquidated position took place on HTX, involved the ETH\/USDT pair, and was worth $8.21 million, says CoinGlass.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n![\"Liquidation](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/05\/BTCUSD-19.png\")
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n