$BTC Bitcoin News: Bitcoin Hits New All-Time High Above $112K on Wednesday as Traders Liquidate $200M in Shorts
AI Summary
Bitcoin's new record above $112,000 indicates strong market demand, suggesting ongoing upward momentum in its valuation.
Key Points:
Bitcoin surged past $112,000 on Wednesday, July 9, setting a new record high.
Over $200 million in BTC shorts were liquidated as prices broke key resistance.
Market momentum appears to be driven by spot demand and institutional accumulation.
Bitcoin continues to gain recognition as a safe-haven asset amid rising global tariff risks.
Bitcoin reached a new all-time high above $112,000 on Wednesday, July 9, as renewed investor demand and a wave of short liquidations helped propel prices higher. The move came as more than $200 million in BTC short positions were liquidated, largely near a major resistance level.
According to CoinMarketCap, Bitcoin’s price climbed nearly 6% over the past seven days, with the broader crypto market capitalization recovering to $3.47 trillion — levels last seen in June 2025. However, the market is still below its previous record of $3.73 trillion set in December 2024.
The rally followed U.S. President Trump’s recent announcement of new tariffs — up to 40% on imports from Malaysia, Kazakhstan, South Africa, Myanmar, and Laos. Japan’s tariff rate was also increased to 25%, with implementation scheduled for August 1.
Analysts Point to Strong Spot Demand
Analysts at Bitfinex said the latest price surge reflects structural strength in the market:
“This rally has been built on solid ground, supported by real capital flows rather than short-lived speculative leverage.”
They noted that the market is seeing a reset of over-leveraged participants, setting a healthier foundation for further upside — provided that spot buying pressure continues.
Safe-Haven Status and Exchange Outflows
Sygnum Bank research head Katalin Tischhauser pointed out that Bitcoin’s performance since early April increasingly resembles that of a safe-haven asset, especially in light of macro uncertainty.