#BTCBreaksATH

A powerful short squeeze has propelled the price of Bitcoin to take off, triggered shortly after Donald Trump’s surprise announcement of new tariffs against certain foreign countries. The political shock drove many investors to shelter in BTC, causing the price to explode in just a few hours.

In the 24 hours that followed, over 209 million dollars in short positions were liquidated — a surge of 731% — forcing many bearish traders to rush to buy back BTC, further fueling the rise.

The strength of the movement is also confirmed by the spot market volume, which skyrocketed by 24.93% and exceeded 54.6 billion dollars in daily trading. A clear signal: this was not just volatility from derivatives, but real and organic demand. ETFs and whale accumulation tighten the supply of Bitcoin.

Institutional demand continues to be a powerful engine for the price of Bitcoin. Just in the last week, U.S. spot ETFs on BTC recorded inflows of 667 million dollars, led by BlackRock’s iShares Bitcoin Trust (IBIT), which now holds over 625,000 BTC.

This constant flow is reducing the circulating supply, keeping upward pressure high.

On-chain data also confirms a clear trend: 'whale' wallets (those holding between 100 and 1,000 BTC) have accumulated nearly 50,000 BTC from April to today, a behavior very similar to what was observed before the bull market of 2024.

At the same time, 75% of all Bitcoin in circulation has not moved in over a year, a figure that drastically reduces short-term selling pressure.