{"id":847176,"date":"2025-05-10T09:11:37","date_gmt":"2025-05-10T14:11:37","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/10\/crypto-news-today-bitcoin-pushes-past-102k-as-record-etf-flows-trade-news-fuel-rally\/"},"modified":"2025-05-10T09:11:37","modified_gmt":"2025-05-10T14:11:37","slug":"crypto-news-today-bitcoin-pushes-past-102k-as-record-etf-flows-trade-news-fuel-rally","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/10\/crypto-news-today-bitcoin-pushes-past-102k-as-record-etf-flows-trade-news-fuel-rally\/","title":{"rendered":"Crypto news today: Bitcoin pushes past $102K as record ETF flows, trade news fuel rally"},"content":{"rendered":"<div data-site=\"CoinJournal\">\n<div data-site=\"CoinJournal\">\n<picture><source  type=\"image\/webp\" media=\"(min-width: 750px)\"><source  type=\"image\/webp\"><source  type=\"image\/jpeg\" media=\"(min-width: 750px)\"><source  type=\"image\/jpeg\"><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/05\/Best-crypto-to-buy-Alpaca-Finance-XRP-or-PepeX.png\" alt=\"Crypto news today: Bitcoin pushes past $102K as record ETF flows, trade news fuel rally\" width=\"100%\" height=\"100%\">\n<\/picture>                            <\/div>\n<ul>\n<li>Bitcoin surged over 3% in 24 hours, topping $104,000 (highest since Jan 31).<\/li>\n<li>Nearly $400 million in bearish BTC short positions were liquidated in 24 hours (highest since Nov).<\/li>\n<li>The significant short squeeze suggests potential for further upside as bearish pressure eases.<\/li>\n<\/ul>\n<p>Bitcoin experienced a powerful upward surge in the last 24 hours, decisively breaking above key psychological levels and catching many bearish traders off guard, leading to substantial liquidations of short positions.<\/p>\n<p>The rally was underpinned by positive macroeconomic news and continued strong institutional interest in the leading cryptocurrency.<\/p>\n<p>The price of Bitcoin (BTC) climbed over 3% within a 24-hour period, trading around $102,500 and at one point surpassing the $104,000 mark \u2013 its highest level since January 31.<\/p>\n<p>This bullish momentum was not confined to Bitcoin; the broader cryptocurrency market also rallied significantly.<\/p>\n<p>The total market capitalization of all cryptocurrencies, excluding Bitcoin, surged by an impressive 10% to reach $1.14 trillion, a peak not seen since March 6, according to data from TradingView.<\/p>\n<p>Two key catalysts appear to have fueled this sharp upswing.<\/p>\n<p>Firstly, President Donald Trump announced a comprehensive trade deal had been reached with the United Kingdom, a development that generally boosts risk appetite in global markets.<\/p>\n<p>Secondly, cumulative inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) reportedly hit a new record high, surpassing $40 billion, signaling sustained and growing institutional demand for direct Bitcoin exposure.<\/p>\n<h2>Bearish bets decimated in short squeeze<\/h2>\n<p>This rapid and strong price appreciation triggered a significant \u201cshort squeeze,\u201d where traders who had bet on Bitcoin\u2019s price falling were forced to close their positions at a loss as the market moved against them.<\/p>\n<p>According to data from Coinglass, nearly $400 million worth of bearish BTC short positions were liquidated over the past 24 hours.<\/p>\n<p>This represents the highest single-day total for short liquidations since at least November.<\/p>\n<p>A position is liquidated, or forcibly closed by an exchange, when adverse price movements cause a leveraged trader\u2019s account balance to fall below the required margin level, preventing further losses.<\/p>\n<p>In contrast, a relatively modest $22 million in bullish long positions were wiped out during the same period.<\/p>\n<h2>Implications of the imbalance: more upside ahead?<\/h2>\n<p>The substantial imbalance between short and long liquidations provides a telling insight into recent market positioning.<\/p>\n<p>It indicates that leverage was heavily skewed towards the bearish side, meaning many traders were anticipating or positioned for a price decline.<\/p>\n<p>The rapid unwinding of these short positions, as traders were forced to buy Bitcoin to cover their losses, likely exacerbated the upward price movement.<\/p>\n<p>Market analysts often view such a significant liquidation of shorts as a potentially bullish signal for the near term.<\/p>\n<p>It suggests that a considerable amount of selling pressure has been removed from the market, potentially clearing the path for further price gains as the prevailing sentiment shifts and buyers gain more control.<\/p>\n<p>The combination of positive external catalysts and the internal market dynamics of a short squeeze could set the stage for continued upward momentum for Bitcoin and the broader crypto market.<\/p>\n<div>\n<hr>\n<h6>Share this article<\/h6>\n<hr>\n<h6>Categories<\/h6>\n<hr>\n<h6>Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/crypto-news-today-bitcoin-pushes-past-102k-as-record-etf-flows-trade-news-fuel-rally\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Deepali Singh<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin surged over 3% in 24 hours, topping $104,000 (highest since Jan 31). Nearly $400 million in bearish BTC short positions were liquidated in 24 hours (highest since Nov). The significant short squeeze suggests potential for further upside as bearish pressure eases. Bitcoin experienced a powerful upward surge in the last 24 hours, decisively breaking<\/p>\n","protected":false},"author":1,"featured_media":847177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,22791],"tags":[],"class_list":["post-847176","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/847176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=847176"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/847176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/847177"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=847176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=847176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=847176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}