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Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
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Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Crypto Bears Rekt: $359M Gone As Bitcoin, Ethereum Rebound

Keshav Verma
Keshav Verma
Last Updated: June 24, 2025 10:30 pm
2 mins read
Bitcoin Bears

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Data shows the rebound in Bitcoin and other cryptocurrencies has punished the bears, triggering a massive wave of short liquidations.

Crypto Sector Has Just Witnessed A Mass Liquidation Event

According to data from CoinGlass, a large amount of liquidations have piled up on the cryptocurrency derivatives market. “Liquidation” refers to the forceful shutdown that any open contract has to go through if its losses exceed the threshold defined by its platform.

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Below is a table that shows the numbers related to the latest liquidations in the market.

Bitcoin & Crypto Liquidations
Looks like the short liquidations have outweighed the long ones inside this window | Source: CoinGlass

As displayed, the cryptocurrency sector has seen a derivatives flush of over half a billion dollars during the past day. Out of these, 73.7% of the liquidations, equivalent to $371 million, came from the short investors alone.

The short-heavy mass liquidations have come as Bitcoin and company have rebounded following the news of a ceasefire between Israel and Iran. Earlier, US strikes on Iranian nuclear facilities had induced a crash in the market that ended up unleashing a flurry of long liquidations. This time, it seems the bears have been the ones caught out instead.

As usual, Bitcoin and Ethereum have topped the list of liquidations, but interestingly, the latter ($168 million) has managed to outweigh the former ($153 million), which is generally not the case.

Bitcoin Vs Ethereum Vs Other Cryptos
The breakdown of the liquidations by symbol | Source: CoinGlass

Ethereum observing a higher amount of liquidations could come down to the fact that its price has seen a larger jump during the past day (7% vs 3.5%). It could also be an indication of an elevated level of speculative interest in the cryptocurrency.

Out of the altcoins, Solana and XRP have topped the charts with $29 million and $13 million in liquidations, respectively. Though clearly, these numbers are quite small compared to the figures of the top two titans, showcasing the sheer difference in capital involved.

In some other news, Bitcoin taker buy volume has shot up on the cryptocurrency exchange Bybit, as an analyst has pointed out in a CryptoQuant Quicktake post.

Bitcoin Taker Buy Sell Ratio
The trend in the BTC Taker Buy Sell Ratio for the Bybit platform | Source: CryptoQuant

In the chart, the data of the Bitcoin Taker Buy Sell Ratio is shown. This metric measures the ratio between the taker buy and taker sell volumes for a given platform. Here, the exchange involved is Bybit.

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It would appear that the indicator has recently seen a sharp spike above the 1 mark, a sign that long volume has started to sharply outpace the short one. According to the quant, spikes in the metric on Bybit have often preceded a surge in the BTC price.

BTC Price

Following the recovery run over the last 24 hours, Bitcoin has returned to the $105,100 mark.

Bitcoin Price Chart
The price of the coin seems to have been up and down in recent days | Source: BTCUSDT on TradingView
Featured image from Dall-E, CryptoQuant.com, CoinGlass.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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