Bitcoin’s rally to a new all-time high above $106,000 liquidates this massive whale

Bitcoin took just over ten days to re-establish its market presence by shooting to a new all-time high, this time over $106,000.

It went up, down, and up again over the past 12 hours or so, leaving more than $300 million in liquidations, but one order in particular stands out as the biggest.

Data from CoinGlass shows that the major cryptocurrency’s rally has crushed nearly 100,000 traders in the past 24 hours. However, the largest liquidated position took place on Binance and involved the BTC/USDT trading pair.

The total value was $19.86 million, which the whale lost during the volatile journey. While it seems likely that it was from a short position, BTC also pulled back about two thousand immediately after the last peak, which might raise some doubts as to whether it might have been a trader expecting more gains.

After all, just over 51% of Binance’s liquidations were for shorts. However, these developments only show that traders should be cautious about opening over-leveraged positions in the current volatile environment.

Liquidation heat map. Source: CoinGlass

Aside from BTC, which has extended its dominance over the market, many larger-cap alternatives have also posted some gains over the past 24 hours. These include ETH, SOL, DOGE, ADA, AVAX and TON are up around 2-3% each.

SUI has bounced back from bigger highs, having gained 9% and trading near $4.8.

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