Bitcoin’s price has surged past $123,000, triggering massive liquidations across crypto markets.
Meanwhile, altcoins like Hedera (HBAR) and XRP have shown strong moves, with Hedera breaking a four‑month high and XRP nearing the key $3 threshold.
Moreover, traders are digesting the fallout of a $334 million short squeeze even as they assess fresh rallies in select tokens.
BTC breaks $123K, triggers liquidations
Bitcoin’s breakout above $123,000 came after a four‑day rally that overcame weeks of consolidation around $110,000.
As funds flooded in, a high‑risk trader known as Falllling saw his $334 million short position liquidated in under three hours.
Lookonchain data shows the trader lost 1,743 BTC, 33,743 ETH, and 15 million FARTCOIN, for total losses of $25.84 million.
Gambler @qwatio‘s massive short positions worth $334M were fully liquidated in just 3 hours, including: 1,743 $BTC ($211M), 33,743 $ETH ($102.3M), and 15M $FARTCOIN ($20.6M).
His wallet (0x916E) is now down nearly $25.84M in total losses.
x.com/lookonchain/st…
371
Reply
Copy link
Meanwhile, the liquidation cascade contributed to over $702 million in total liquidations across more than 124,000 traders in 24 hours.
Many observers drew parallels to James Wynn’s $100 million long‑BTC wipeout in May 2025, when the price briefly dipped below $105,000.
Hedera (HBAR) soars on real‑world adoption
Hedera (HBAR) has rallied more than 25% to reach $0.253, marking its highest spot since March.
Moreover, the surge has been fuelled by real‑world growth in Hedera’s DeFi ecosystem, with TVL climbing from $151 million to $215 million.
In addition, DEX volumes topped $80 million, reflecting deeper liquidity and user engagement on the network.
At the RAISE Summit 2025, Hedera was chosen for sovereign AI infrastructure in partnerships with NVIDIA, Accenture, and SCAN UK.
According to Rekt Capital, Hedera is positioned for a possible repeat of 2021, when a majority of cryptocurrencies, including HBAR, exploded.
$HBAR
Continues its upside to +62%, positioning for a possible repeat of 2021
Generally, HBAR has followed the 2021 cycle almost perfectly
As long as that continues, any dip would be retest attempt with the aim of breaking the Lower High (black)
#BTC #Hedera #hederahashgraph
271
Reply
Copy link
Technically, HBAR cleared resistance at $0.205 and $0.19, and now faces chart barriers at $0.2509, $0.2666, and $0.2778.
Support levels to watch remain at $0.2354 and $0.2187, with forecasts placing HBAR between $0.2483 and $0.4225 by year‑end.
XRP eyes $3 breakout
XRP climbed to $2.97 before pulling back, signalling hesitation just shy of the $3 barrier.
Although traders note that the RSI sits above 80, suggesting overbought conditions that often precede pullbacks, volume has climbed in tandem.
XRP’s current 24‑hour range has been $2.78 to $3.00, and its market cap stands near $176 billion.
Although moving averages have flipped bullishly, long upper wicks on daily candles hint at profit‑taking.
A decisive break above $3 may trigger stop runs, but the current grind suggests exhaustion is near.
XRP’s market cap of $176 billion ranks it third among all cryptocurrencies, underscoring its scale.
Even so, investors are watching whether renewed buying pressure can sweep liquidity and propel XRP beyond its all‑time high of $3.40.
The post XRP $3 breakout, HBAR hits four-month high as BTC surge past $123K appeared first on Invezz
