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$380 Million in Cryptos Liquidated as Bitcoin Targets $200,000

2 mins
Updated by Ali M.
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In Brief

  • Bitcoin soars to $57,000, a level not seen since December 2021.
  • Over $380 million in crypto liquidated in 24 hours amid price surge.
  • Trader predicts Bitcoin could reach $200,000 by September 2025.
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Bitcoin (BTC) has soared to $57,000, reaching heights unseen since December 2021. Ethereum is not far behind, nearly hitting $3,300. With the rapid price increase, a veteran trader has given a bold target for Bitcoin price.

On Monday, massive inflows into the spot Bitcoin exchange-traded funds (ETFs) pushed the price to yearly highs.

Bitcoin, Ethereum Lead $380 Million Liquidation Spree

The recent surge in value triggered over $380 million in crypto liquidations within 24 hours. Specifically, long trades worth $109 million were liquidated, while short trades saw a higher toll, with $271 million lost.

Consequently, a total of 89,163 trades were wiped out. Bitcoin trades suffered the most, with $190 million liquidated, followed by Ethereum at $68 million.

Read more: Bitcoin Price Prediction 2024/2025/2030

Crypto Liquidations
Crypto Liquidations. Source: Coinglass

Interestingly, this price rally coincided with a significant influx into spot Bitcoin ETF products during US trading hours. Notably, Grayscale’s ETF saw a slowdown in net outflows for the third consecutive day, hitting a record low of $22.4 million. Meanwhile, other funds enjoyed a surge in inflows, reaching a two-week peak.

Further analysis reveals that the Grayscale Bitcoin Trust (GBTC) experienced a halving in outflows on February 26. This was a sharp decrease from the daily net outflow of $44.2 million on Friday at the week’s end.

In addition, the combined net inflows of all Bitcoin ETFs soared to $519.9 million, the highest in two weeks. Bloomberg analyst Eric Balchunas pointed out that nine Bitcoin ETFs recorded record-high volumes, aligning with Bitcoin’s approach to $57,000 levels.

February 21154.371.711.
February 2296.552.
February 23125.1158.
February 26167.552.512.
February 26111.8243.337.2130.
Spot Bitcoin ETF Flow Table. Source: Farside Investors

As of writing, Bitcoin’s price has risen by approximately 8.77% in 24 hours, standing at $56,000. This resurgence aligns with veteran trader Peter Brandt’s prediction. He targets $200,000 for Bitcoin in the current bull market cycle, which is expected to peak between August and September 2025.

“With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000,” Brandt explained.

Read more: Bitcoin Halving Cycles and Investment Strategies: What To Know

Bitcoin Price Performance
Bitcoin Price Performance. Source: TradingView

Still, Brandt warned that a close below the previous week’s low, at around $50,500, would invalidate the bullish outlook. Such a downswing may trigger a steeper correction toward $46,500 or lower.

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Harsh Notariya
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