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Quick Take: Crypto Liquidations Top $291M as Bitcoin Revisits $100K Level
By: bitpinas|2025/05/08 18:15:02
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The crypto market experienced significant liquidations, totaling around $291 million, or about ₱16.1 billion, in the past 24 hours as Bitcoin returned to the $100,000 mark. This followed $BTC’s surge to $100,000, driven by continued optimism surrounding U.S.-China trade relations. Liquidation Breakdown in the Last 24 Hrs Exchanges’ Impact U.S.-U.K. trade deal Bitcoin surged to over $99,000, its highest since February, amid speculation around a U.S.-U.K. trade deal teased by Trump and a Federal Reserve rate pause at 4.25% to 4.50%. According to The New York Times , the deal includes Britain and could represent a significant diplomatic breakthrough after months of tariff-fueled economic tensions under Trump’s “Liberation Day” policy agenda. Additional Surge Factors Another reason for the surge in $BTC is that Tokyo-based Metaplanet announced that it will issue another $25 million in bonds—its second such sale in days—to EVO FUND in order to purchase more of the cryptocurrency. The zero-interest bonds mature on November 6, 2025. The company also revealed it recently acquired 555 $BTC worth ¥7.63 billion ($53.5 million), bringing its total holdings to 5,555 $BTC, the largest among public companies outside North America. Following the news, Metaplanet’s shares rose 11.5%. Optimism over the upcoming U.S.-China trade talks set for May 10 to 11 is also noted as a driver of $BTC’s price. Market sentiment is boosted by hopes that the talks will ease the ongoing tariff war (U.S. at 145%, China at 125%), potentially creating a more stable global economy that favors risk assets like crypto. This article is published on BitPinas: Quick Take: Crypto Liquidations Top $291M as Bitcoin Revisits $100K Level What else is happening in Crypto Philippines and beyond?
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