Bitcoin Breaks $123,000 to Set New All-Time High

The rally ignited a wave of short liquidations totaling $90.79 million in just 24 hours, a jump of 180% compared to the day before. With critical resistance now sitting between $123K and $125K, traders are watching closely for the next breakout.

A large concentration of bearish positions remains between $122,800 and $125,500, according to Binance News. If Bitcoin can hold above the $122K mark, forced buybacks from these liquidations could add reflexive upward pressure, accelerating gains into uncharted price territory.#bitcoin