Bitcoin Price Reaches IDR 1.91 Billion, Crypto Investors Are Reminded To Be Careful

JAKARTA - The price of bitcoin continues to accelerate to score its highest level at 118,000 US dollars or approximately IDR 1.91 billion (exchange rate of IDR 16,216 per US dollar). This triggered the largest short position liquidation wave in the crypto derivative market throughout 2025, with a total value of more than US$1.13 billion in the last 24 hours.

The largest liquidation occurred in Bitcoin futures (futures) contracts worth US$590 million, followed by Ethereum (ETH) of US$241 million.

Reku analyst Fahmi Almuttaqin said as many as 237 thousand traders were recorded to have liquided, with short BTC-USDT positions worth 88.5 million US dollars being the largest.

The spike in prices was driven by strong bullish sentiment, as evidenced by open interest Bitcoin futures which rose 2 billion US dollars in just 4 hours and the long-short ratio which is now leaning towards a long position (52 percent).

He assessed that this event reflects the classic 'short squeeze' phenomenon, where a sharp price increase is triggered by buying pressure due to liquidation of short positions that are too dense.

"For crypto investors, this moment underscores the importance of risk management discipline and not over-verage or using leverage positions with too high levels, especially when bullish trends in the crypto market are still quite strong, although in situations where short-term positive catalysts are minimal," he explained, quoting Antara.

He explained that price increases are still open in the near future, but investors still need to be vigilant because sharp price spikes are often followed by corrections when market euphoria subsides.

"Extreme volatility must still be anticipated, because liquidation-based rallies are often followed by a consolidation or retrace phase after the euphoria subsides," he said.

In addition to technical factors, macroeconomic sentiment also affects market movements. The US central bank alias The Fed is expected to still hold its benchmark interest rate in the near future, given the lack of signal of policy easing from Fed Chairman Jerome Powell.

Fahmi added that the surge in demand for Bitcoin was also driven by the accumulated strategy of institutional and 'whale' investors which further strengthened the asset price resilience.

"These factors have the potential to strengthen the price level of Bitcoin in any potential for future fluctuations, which can also support the potential for further rally if liquidity increases," added Fahmi.

From the Altcoin sector, potentially developing ETF sentiment in the fourth quarter as Trump's president's involvement and support made crypto assets other than Bitcoin no less interesting. Price corrections that have occurred in the past few months that have put the majority of altcoins at a fairly low level of valuation relative to their historical price levels could help increase the altcoins' appeal.

Fahmi explained the strategy for Investors to further balance risk or optimize the benefits of this Bitcoin price fluctuation, investors can take advantage of Futures features with a reasonable leverage level by using trusted platforms that have high credibility on the market price used.

"Currently, futures in Indonesia has also been legally regulated since last February. Thus, this feature allows crypto traders in Indonesia to maximize market potential with small capital securely on licensed exchanges," he said.

"Like on Reku, which offers Futures features with leverage of up to 25x, which is considered a relatively maintained level of leverage but can still offer attractive potential benefits," explained Fahmi.

"In addition, Reku Futures has also been equipped with a qualified risk management system through Stop Loss and Take Profit. So that users can flexibly manage risks based on their respective investment and profile goals," added Fahmi.