Bybit Liquidates $10M BTC Short Amid Price Surge

A significant market event occurred in August 2025 when Bybit, a prominent crypto derivatives exchange, liquidated a substantial $10 million Bitcoin short position. This liquidation was triggered by Bitcoin’s price surge above the $120,000 mark and underscores the intense volatility currently affecting the crypto market. The impact of this action was felt across the broader cryptocurrency ecosystem as $5.01 billion in global liquidations were recorded on various exchanges. 77.7% of these liquidations originated from short positions, highlighting the significant shift in market sentiment following Bitcoin’s price ascent.