• Bitcoin single $88.5 million short position was liquidated on HTX at $116,363.3, marking the largest trade.
• Total market liquidations reached $340.07 million on July 11, with $247.26 million from shorts.
• BitMEX led with $204.77 million in short liquidations as Bitcoin surged past $117,000.

A major Bitcoin short position worth $88.55 million was liquidated at 00:18:44 on the HTX exchange. The BTC-USDT pair executed at $116,363.3, marking the largest single transaction by volume in the timeframe. This order occurred amid high market activity and rapid price movement.

Multiple Bitcoin Transactions Follow Liquidation

As per Cointelegraph post on X, it is notable that minutes after the $88.5 million liquidation, a second BTC-USDT trade of $4.19 million was recorded at $116,364.4. Other large Bitcoin trades followed, including a $3.01 million order at $115,736.8 and a $4.75 million order at $115,957.4. 

These movements occurred between 00:18:27 and 00:19:23, showing a sharp cluster of high-value trades. In the same minute, ETHUSDT traded at $2,879.54 with a volume of $1.23 million. ETHBTC also recorded $1.14 million in trading volume at a price of $0.02472. 

Meanwhile, BTCUSD orders ranged from $1.07 million to $4.75 million. The lowest BTCUSD trade was priced at $115,813.8. The recorded activity shows dense trading within a short span. Bitcoin price remained above $115,000 throughout. Volume spikes indicate possible cascading executions during that timeframe.

Over $247 Million in Total Shorts Liquidated 

According to Coinglass data, the total liquidations across crypto exchanges surged on July 11, 2025, after Bitcoin reached $117,757 at 03:00. The combined liquidation volume stood at $340.07 million, with short positions driving the majority. Of the total, $247.26 million came from short liquidations while longs added $92.81 million.

BitMEX recorded the largest short liquidations at $204.77 million, paired with $47.75 million in longs. Bybit followed with $101.30 million in shorts and $30.86 million in long positions cleared. Binance posted $68.7 million in short liquidations and $36.42 million in longs. Other platforms experienced lower volumes. OKX cleared $18.01 million in shorts and $9.72 million in longs. 
HTX saw $17.54 million in shorts and $3.52 million in longs. Gate reported $30.5 million in shorts and $10.95 million in long liquidations. CoinEx showed only $2.13 million in shorts but registered $630,000 in longs. Hyperliquid recorded $7.47 million in shorts and $661,000 in long positions. The Bitcoin price trend moved upward as most short positions were cleared. Liquidations peaked during the price rally toward $117,230.77, triggering widespread market movement across all exchanges.

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