Bitcoin Dominance Surges 17% After $1 Billion Liquidations

Bitcoin dominance has surged following a significant market shakeout, triggered by over $1 billion in leveraged liquidations across the crypto market. Bitcoin is currently stabilizing around $104,957, with a slight decrease of 0.17% in the last 24 hours, as traders reassess their risk appetite. According to data from Coinglass, more than 247,000 traders were liquidated in a 24-hour window, with the most notable wipeout being a $200 million BTC long on Binance, the largest single liquidation event of the year. Most of the damage occurred on Binance and Bybit, which together accounted for $834 million in liquidated positions. The overwhelming majority of these liquidations were longs, as traders overleveraged on bullish momentum fueled by Circle’s IPO momentum and renewed interest in U.S.-based DeFi protocols.

These forced liquidations act as automatic margin calls. When traders fail to meet required collateral thresholds, exchanges close positions to protect the broader system. However, in times of sharp volatility, these measures often snowball, leading to rapid price declines and widespread market capitulation. While altcoins suffered steep losses, Bitcoin's price prediction is supported above $104,000. The selloff appears to have driven investors back into BTC as a relative safe haven. Bitcoin dominance, a metric measuring BTC’s share of total crypto market cap, has risen sharply, suggesting that traders are fleeing riskier assets in favor of the original cryptocurrency.

Technically, BTC is hovering just above the 0.236 Fibonacci retracement level at $104,872 and sits on an ascending trendline that has supported price action since early June. The MACD histogram is flattening, showing early signs of bearish momentum waning. If bulls can reclaim the 50-period EMA near $106,351 and surpass the 0.5 Fib level at $106,788, a move toward $108,864 remains in play. This pattern suggests a possible higher low in the making, especially if the current consolidation zone holds. Small-bodied candles point to indecision and accumulation—typical behavior near the bottom of correction cycles.

Despite market turbulence, Bitcoin’s chart structure remains technically constructive. A move over the $106,350 level would indicate a short-term breakout, validating a reversal pattern and that could propel BTC toward $107,640 and $108,864. With major altcoins bleeding and risk sentiment fragile, Bitcoin’s resilience could attract sidelined capital. Unless BTC breaks below $103,169, the broader uptrend remains intact. In the current environment, Bitcoin isn’t just a crypto—it’s the crypto safe haven.

With Bitcoin trading near $105K, investor focus is shifting toward altcoins, especially BTC Bull Token ($BTCBULL). The project has now raised $7,141,005.09 out of its $8,216,177 cap, leaving less than $1 million before the next token price hike. The current price of $0.00256 is expected to increase once the cap is hit. BTC Bull Token links its value directly to Bitcoin through two core mechanisms: BTC Airdrops reward holders, with presale participants receiving priority, and Supply Burns occur automatically every time BTC increases by $50,000, reducing $BTCBULL’s circulating supply. The token also features a 58% APY staking pool holding over 1.81 billion tokens, offering no lockups or fees, full liquidity, and stable passive yields, even in volatile markets. This staking model appeals to both DeFi veterans and newcomers seeking hands-off income. With just hours left and the hard cap nearly reached, momentum is building fast. BTCBULL’s blend of Bitcoin-linked value, scarcity mechanics, and flexible staking is fueling strong demand. Early buyers have a limited time to enter before the next pricing tier activates.