Bitcoin Surges Over $101K, Resulting in $500M Short Position Liquidations

Bitcoin has finally surpassed the anticipated $100,000 milestone, reaching a new three-month high of over $101,000. This follows reports of potential tariff discussions between China and the US, contributing to an earlier increase to $99,700.

This surge comes after a challenging period last month when Bitcoin dipped below $75,000 during the height of the Trade War. The rise also resulted in significant profit gains for various altcoins, including PEPE, SUI, and FARTCOIN, with increases between 20-25%.

Ethereum also experienced a double-digit rise, crossing the $2,000 mark for the first time in over a month. Consequently, short positions worth up to $500 million have been liquidated, with over 145,000 trades affected, as per CoinGlass.