BTC Surges 4.15% on Binance as $218M Short Squeeze Fuels Rally Above $2 Trillion Market Cap

Bitcoin (BTCUSDT) experienced a 4.15% price increase in the past 24 hours, rising from 111,373.22 USDT to 115,999.99 USDT on Binance. This upward movement is primarily attributed to a combination of factors: significant liquidations of over $218 million in short positions, which likely triggered a short squeeze and accelerated the price rally; ongoing bullish sentiment following Bitcoin’s recent all-time high; and positive fundamental developments such as increased institutional adoption and public endorsements from industry figures. Despite some short-term technical resistance and volatility, the market remains active, with Binance reporting a 24-hour trading volume of 2.80 billion USDT and Bitcoin maintaining a dominant market capitalization above $2 trillion.