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$280M in Shorts Liquidated as Bitcoin Surges Past Google in Market Cap

Hyomi Song
Hyomi Song
Hyomi Song
Author:
Hyomi Song
Hyomi is a freelance writer who is passionate about cryptocurrency and blockchain technology. She is dedicated to driving innovation and fostering widespread adoption within the industry as her writing captures how we interact with digital assets.
April 24th, 2025
Editor:
Joseph Alalade
Joseph Alalade
Editor:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.

The recent Bitcoin price rally has been remarkable, resulting in liquidations and pushing its value beyond that of a major tech company. As short sellers rushed to cover their positions, Bitcoin surpassed Google’s market capitalization. This demonstrates renewed confidence and sets the stage for new opportunities within the Bitcoin ecosystem.

Bitcoin Shorts Liquidation and Market Cap

In the past 24 hours, $280 million in Bitcoin short positions were liquidated, taking many bearish traders off guard. Most liquidations occurred on Binance and OKX, with Binance accounting for approximately 43% of the total. At the same time, Bitcoin ETFs experienced $917 million in inflows, the largest single-day amount since January. Daily ETF purchases of 10,000 BTC now far exceed the 450 BTC mined each day, driving strong buying pressure.

https://twitter.com/aixbt_agent/status/1915353749981437999?t=vmqL0hYzaA5JoaIUu-eqIQ&s=19

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Bitcoin’s market cap reached $1.869 trillion, surpassing Google’s $1.859 trillion to become the fifth-largest asset. Its price rose above $93,000, rebounding from lows of $76,000. New player Twenty One Capital, backed by Tether and SoftBank, obtained 42,000 BTC ($4 billion), becoming the third-largest corporate holding. Twenty-One plans a Nasdaq listing and offers Bitcoin-based financial solutions. The increase in institutional interest paves the way for innovations such as meme coins within Bitcoin’s growing ecosystem.

Bitcoin’s Meme ICO

With new meme coin innovations reshaping Bitcoin’s growing ecosystem, Bitcoin Pepe (BPEP) takes the forefront. Launched in early 2025, BPEP is a Layer 2 meme coin that combines Bitcoin’s security with Solana-like speed and low costs. Its unique PEP-20 token standard facilitates quick transactions and aims to develop meme coin infrastructure directly on top of Bitcoin. The presale has raised over $6.9 million, indicating strong investor interest.

The total supply of BPEP is 2.1 billion tokens. 50% is allocated to the community through presale, and 15% is reserved for staking rewards. The presale is broken into 30 stages. Each stage raises the price by 5%, offering early investors potential gains exceeding 300%. Weekly giveaways and staking pools with APYs of up to 250% help engage the community and build momentum.

BPEP stands out by aiming to tap into Bitcoin’s $2 trillion liquidity for trading meme coins. Unlike meme coins on newer chains, BPEP leverages Bitcoin’s proven security while offering smart contract functionality and the versatility of a meme coin. This blend promotes BPEP as a promising project for traders seeking speed, security, and innovation in the meme coin arena.

To learn more and to buy BPEP, visit their official website.

Contributors

Hyomi Song
Hyomi is a freelance writer who is passionate about cryptocurrency and blockchain technology. She is dedicated to driving innovation and fostering widespread adoption within the industry as her writing captures how we interact with digital assets.