Bitcoin Blasts Past $101K, Triggering $500M in Short Liquidations

Bitcoin has officially shattered the $100,000 barrier, soaring to a three-month high of $101,000+, fueled in part by renewed optimism around potential US-China tariff negotiations—which earlier pushed the price to $99,700.

This powerful rebound comes after last month’s dip below $75,000, a low point during peak trade war tensions. Now, BTC’s surge has sparked a market-wide rally, with altcoins like PEPE, SUI, and FARTCOIN jumping 20–25% in the wake of renewed bullish momentum.

Ethereum joined the breakout, climbing above $2,000 for the first time in over a month—marking a strong recovery in the broader market.

According to CoinGlass, the sudden upward move liquidated over $500 million in short positions, affecting more than 145,000 traders in the past 24 hours.

The message from the market is clear: bears got burned, and Bitcoin’s momentum isn’t slowing down anytime soon.