On the night of July 17 to 18, 2025, the price of Bitcoin surged sharply, reaching $120,998 for the first time. Over the course of a day, the cryptocurrency added about 2.5% to its value, triggering significant changes in the digital asset market.
This is reported by Finway
Massive Liquidations Amid Bitcoin’s Rise
In the last 24 hours, the volume of forced liquidations in the cryptocurrency market reached $812.7 million. The largest losses were incurred by traders who bet on a decline in the price — so-called short positions, with losses totaling $483 million. Meanwhile, holders of long positions lost $329.7 million.
On the night of July 17 to 18, the price of the first cryptocurrency surpassed the $120,000 mark.
Other digital assets also showed significant growth. In particular, XRP reached an all-time high of $3.65, and most leading altcoins also demonstrated strong increases.
Implications for Platforms and Market Capitalization
The highest number of liquidations was recorded on the Binance exchange, where positions worth nearly $51 million were forcibly closed. A total of 174,391 traders suffered losses over the day. The top three exchanges by liquidation volume also included Bybit and OKX.
Among cryptocurrencies, the most liquidations were noted for Ethereum ($238 million), Bitcoin ($146 million), and XRP ($102.5 million).
The active growth of the digital asset sector has led to the total market capitalization of the crypto market exceeding $4 trillion, setting a new record. Thus, the cryptocurrency market has nearly matched the valuation of Nvidia, which is currently estimated at $4.2 trillion.
Previously, decentralized exchanges also set a record for trading volume ratios in the second quarter, surpassing centralized platforms.