Bitcoin (BTC) has once again surged past expectations, reaching a new all-time high (ATH) and sending shockwaves through the crypto market. Just a day after breaching the $112,000 mark for the first time, Bitcoin has extended its rally to hit a fresh peak of $113,317, according to CoinGecko data . Bitcoin price chart | Source: CoinGecko This historic move came after a prolonged period of sideways trading that kept BTC trapped between $105,000 and $110,000. The breakout was sparked by a renewed push from President Donald Trump for the Federal Reserve to slash interest rates. His remarks on Truth Social emphasised the strength of the markets and called for urgent monetary easing, saying that the Fed should “rapidly lower rates” and that there was “no inflation.” Traders quickly responded to the statement, viewing it as a signal that a looser monetary environment could be on the horizon. This anticipation triggered an immediate influx of capital into crypto markets, pushing Bitcoin out of its consolidation zone and into price discovery mode. As the price of Bitcoin soared, the broader crypto market followed suit . Ethereum (ETH) has gained nearly 5%, climbing above $2,800, while Dogecoin (DOGE) has spiked by more than 5.5%, reflecting the bullish sentiment across the board. Over half a billion dollars’ worth of Bitcoin short positions liquidated According to data from Coinglass , over $600 million in leveraged positions have been wiped out within 24 hours, marking one of the highest daily liquidation totals in recent weeks. The majority of these losses came from short sellers who were betting against the rally. In a particularly notable event, a single large position, widely believed to belong to a major institutional player, was liquidated for more than $51 million. According to CoinGlass data, more than $80 million in liquidations occurred within a single hour as Bitcoin’s rally gained steam. The liquidation pressure likely contributed to the swift momentum, as short positions were forcefully closed, creating additional upward buying pressure. Market analysts have pointed to a combination of technical and macroeconomic factors driving this breakout. Joe DiPasquale, CEO of BitBull Capital, noted that institutional demand, strong ETF inflows, and a general risk-on environment are helping push Bitcoin into uncharted territory. He explained that once Bitcoin crossed the key psychological resistance at $110,000, sidelined capital began to flow back into the market aggressively. On-chain data, according to DiPasquale, still shows room for further growth, although the market remains vulnerable to sudden corrections if sentiment shifts. While the Federal Reserve has been cautious about further interest rate cuts, pressure from the executive branch may influence its stance, especially as inflation has cooled and markets appear resilient. Investors are watching closely for any policy changes that could further validate this bullish narrative. In the meantime, Bitcoin’s new record high solidifies its dominance in the crypto landscape and reaffirms its role as a macro-sensitive asset. The post Bitcoin (BTC) sets new ATH, over $600M short positions liquidated appeared first on Invezz
