Bitcoin Surges to $107K, $360M in Liquidations Shake the Market

Bitcoin climbed to almost $107,000 early this week, marking its highest level since last Tuesday and signaling a strong start to the new trading week. The rapid price increase severely impacted leveraged traders, with one prominent account suffering 12 liquidations within 12 hours, totaling over $85,000 in losses and leaving the account with just $6,010.

Over the past 60 days, the same trader had experienced 45 liquidations, highlighting the risks of persistent shorting during volatile periods. The spike in Bitcoin came as the asset moved from below $102,000 to a six-day high, coinciding with announcements that suggested additional stimulus payments for certain Americans. Market watchers interpret this as a potential influx of fresh capital into crypto markets.

Altcoins also experienced notable gains during the surge. WLFI surged nearly 30%, while PUMP, ZEC, and UNI rose between 14% and 16%. Despite the optimism, volatility remains high, with total liquidations over the past 24 hours reaching approximately $360 million, most of which came from short positions. The total number of affected traders is estimated at around 120,000, demonstrating the broad impact of BTC’s aggressive upward move