Two Bitcoin Whales Face Massive $190.61 Million Losses in Short Positions as BTC Climbs to New ATH of $122,838

In an unexpected change in events, the Bitcoin market has experienced a significant liquidation event sparked by a sudden rise in $BTC’s value, as market analyst Onchain Lens disclosed.

Short Positions Face Losses

As Bitcoin surged to a new $ATH of $122,000 today, two whales experienced massive liquidations totaling $190.61 million, a new revelation reported by the analyst.

According to the data, the first whale encountered a liquidation of $98.10 million on $BTC/$USDT on Binance. The second whale witnessed a liquidation of $92.51 million on $BTC/$USDT on HTX.

This means the whales opened short positions, hoping that $BTC’s price would fall. However, they encountered significant losses today as the digital asset’s value rapidly rose from $117,265.44 to a new high of $122,000.

This price movement caused liquidations of the two traders’ leveraged short positions, amounting to $190.61 million worth of Bitcoin due to the unexpected price spike.

The sequence of events started on Sunday with an unanticipated surge of $BTC’s value. This dramatic increase proved disastrous for leveraged positions, indicating the risks in such trades. This happening highlights the destructive potential of large liquidations within the crypto derivatives markets.

Why $BTC Keeps Climbing

According to today’s trading chart, $BTC’s value is currently hovering at $122,463. The largest digital asset has risen substantially by 3.8% in the last 24 hours, with the highest intraday price registered at $122,838.

The current price of Bitcoin is $122,463.

This upturn momentum is a further move from the previous $ATH of $118,872 reached last week on Friday, July 11, 2025. The monumental jump has made investors and traders ask why $BTC is going up so steadily like this and what keeps it climbing.

The asset’s value has risen by 12.3%, 13.7%, and 16.5% over the past seven days, two weeks, and one month, respectively, indicating how much interest and money are moving into $BTC positions.

While the mining of new coins happens daily, supply remains limited – this is a major driver behind the asset’s surging price. This colossal increase solidifies $BTC’s reputation for wide swings and for the massive opportunities that attract investors globally.

One of the major reasons why $BTC continues rising is the rejuvenated political backing by U.S. President Trump, and his support for cryptocurrency has bolstered market sentiment.

This week, Congress engages in reviewing the Anti-CBDC Surveillance State Act and the Genius Act stablecoin bills. If approved, these ground-breaking bills could usher in highly wanted regulatory clarity, encouraging institutions to pump capital into Bitcoin and other crypto assets.