Bitcoin (BTC) Important Signal: Over $500 million in crypto leverage has been liquidated, BTC's new high reignites hope for alt season.

After Bitcoin set a historical high of $112,040, the crypto assets market continued to rise on Thursday (July 10). The meeting minutes released by The Federal Reserve (FED) on Wednesday sent dovish signals, reigniting the optimistic sentiment among altcoin investors. According to data from CoinGlass, this surge triggered over $500 million in leveraged position liquidations in the past 24 hours.

The Federal Reserve (FED) dovish meeting minutes become a catalyst for the rise of risk assets

On Wednesday during the US trading session, Bitcoin and major alts surged significantly, with BTC reaching a historical high of $112,040. Major alts such as ETH, SOL, XRP, and ADA followed BTC’s upward trend.

The impetus for this rebound comes from the dovish meeting minutes released by The Federal Reserve (FED) during the U.S. trading session. In the Federal Open Market Committee (FOMC) meeting minutes, some officials indicated that interest rates could be lowered as early as July.

At the same time, most policymakers remain concerned about the inflationary pressures brought by the import tariffs implemented by U.S. President Trump to change global trade.

The dovish stance in the meeting minutes has triggered a risk-on sentiment, thereby supporting the price pump of Crypto Assets.

According to the Coinglass liquidation map, a total of 115,929 traders were liquidated in the past 24 hours, with a total liquidation value of $533.2 million, of which 87.9% were short positions.

The largest single liquidation order involved BTC/USDT, worth 51.56 million USD.

The liquidation amount of Bitcoin exceeds 234.46 million USD, while the liquidation amount of Ethereum is 152.44 million USD.

(Source: Coinglass)