Bitcoin Breaks All-Time High — $330M Shorts Liquidated Amid Institutional Inflows

Bitcoin surged to a new all-time high near $11,700, bringing renewed volatility to the market. In the last 24 hours, $506 million in positions were liquidated, with shorts accounting for 65% ($330M). For the first time in seven days, BTC liquidations ($222M) outstripped those on Ethereum ($130M), hinting at renewed speculative pressure in the Bitcoin market.

Sentiment snapshot:

• Fear & Greed Index at 73 (Greed zone);
• Bitcoin market dominance at 62.9%;
• Altseason Index at 26, signaling Bitcoin-led momentum.

The market was shaken after a trader opened a $1.1B long position using 40x leverage on Hyperliquid, setting a new record for the largest DEX trade ever. Even after reducing exposure, the position shows an unrealized profit of $14M.

BTC Price Action Update

Bitcoin’s breakout to a new all-time high was followed by a minor correction, with the price stabilizing around $111,000. With the market entering new highs, traditional resistance levels are no longer applicable. Notably, what looked like a forming bearish divergence — a potential reversal signal — seems to have been overpowered by continued bullish pressure.

Sentiment among market analysts remains constructive. Trader Titan of Crypto forecasts that Bitcoin will reach $135K or higher by year-end 2025. His original prediction came during a correction phase, when BTC traded near $84K — a level far below current prices.

Traditional market veteran trader, Peter Brandt, has cautioned against overemphasizing Bitcoin’s all-time highs, which he considers standard behavior in bullish cycles. According to his analysis, the asset could realistically top out between $125K and $150K.

Investor Sentiment Turns Toward Fundamentals

Spot Bitcoin ETFs in the U.S. have now seen six straight days of positive net inflows, totaling $607.1 million on May 21 alone. The overwhelming majority flowed into BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $530.6 million — 88% of all ETF allocations that day. With this momentum, IBIT has clearly taken the lead in the Bitcoin ETF landscape.

It’s worth noting that Bitcoin’s price surge has aligned with a notable rise in U.S. Treasury yields. The 20-year bond yield increased by about 0.2%, now approaching 5.1%, compared to 4.5% a month ago. Short-term securities echoed this trend, reflecting broader macroeconomic adjustments.

Check this out: Texas House Passes SB21 to Establish Strategic Bitcoin Reserve

The jump in Treasury yields is largely due to subdued buying interest. Lower demand depresses bond prices, forcing yields higher to remain competitive. This shift often reflects underlying economic fragility, leading investors to seek growth in higher-risk assets, including Bitcoin.

Read on: Will There Be a Recession in 2025? Markets, Data, and Trump’s Tariffs