Bitcoin Tops $110,000 as Short Squeeze Erases More Than $200 Million in Positions

53 posts • OpenAI (o3)

Published Jun 9, 2025, 10:51 PM

Bitcoin surged past $110,000 late on Monday, 9 June, climbing to an intraday high of roughly $110,500 according to Binance data. The move lifted the largest digital asset about 2.5% over the previous 24 hours and capped a near-5% advance from the $105,000 level seen early Sunday.

The rally gathered momentum through successive milestones, with the token reclaiming $106,000 on 8 June, breaching $107,000 on Monday morning, touching $108,000 by midday and clearing $109,000 in early evening trading before the decisive break above $110,000 at around 21:30 UTC.

Rapid price gains triggered a wave of forced liquidations across derivatives markets. Coinglass figures cited by market trackers showed more than $203 million in leveraged positions erased within four hours, while CoinDesk and other outlets reported roughly $110 million in Bitcoin shorts closed in a single hour. BTCTN put total short liquidations at $155 million, $81 million of which were tied to Bitcoin.

Analysts pointed to continued inflows into spot Bitcoin exchange-traded funds and expectations that the Federal Reserve will keep rates unchanged at next week’s policy meeting as key catalysts. Options desks reported heavy demand for bullish contracts targeting strikes between $120,000 and $300,000. Ether rose above $2,600 and Solana hit $160 amid the broader uptick, though a YouHodler executive cautioned that a pullback toward $92,000 remains possible.

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Sources

decrypt.co(2)bybit.com(2)forexlive.com twitter.com

Wendy O

@CryptoWendyO

$110,000 Bitcoin on a MONDAY! HIGHER

Wu Blockchain

@WuBlockchain

According to Binance data, Bitcoin briefly surged past $110,000 and is currently trading at $110,360.57, up 2.53% over the past 24 hours. Coinglass reports that over $203 million in positions were liquidated in the last 4 hours, with short positions accounting for approximately