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Bitcoin(BTC) Surpasses 110,000 USDT with a 3.03% Increase in 24 Hours

On May 21, 2025, 23:26 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 110,000 USDT benchmark and is now trading at 110,307.992188 USDT, with a narrowed 3.03% increase in 24 hours.
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Bitcoin News Today: Bitcoin Eyes Price Discovery Above $110K as $3B in Short Positions Face Liquidation Risk

Bitcoin (BTC) is approaching a critical juncture, with analysts forecasting a potential price discovery phase if it breaches the $110,000 level. As of May 21, BTC is trading around $107,457, just below its all-time high. The asset has already recorded a weekly close at $106,407, and if it ends May above $102,400, it would mark Bitcoin’s highest monthly close in history.$3 Billion in BTC Shorts at Risk Above $107,000Market analysts estimate that more than $3 billion in leveraged short positions could be liquidated if Bitcoin sustains a move above $107,000. According to trading data, this creates a so-called “liquidation magnet”—a technical condition where concentrated short positions act as upward fuel if breached, accelerating bullish momentum.Crypto trader Jelle described the market as being “inches away” from price discovery, a term used when an asset enters a previously uncharted range with no historical resistance, allowing price to be determined by real-time market dynamics.Technical Indicators Signal Breakout PotentialBitcoin is on the verge of confirming a golden cross on the daily chart—a bullish signal formed when the 50-day moving average crosses above the 200-day moving average. Historically, this pattern has preceded price rallies ranging between 45% and 60%. If confirmed, this could push BTC well past its previous all-time high and into a new trading range above $110,000.A monthly close at or near $110,000 would represent a 15–17% gain for May, marking its strongest May performance since 2019, and nearly double the historical average monthly return of 8% for the month.Compression Patterns Mirror 2017 Bull RunBitcoin researcher Axel Adler Jr. noted that BTC is currently undergoing its third major price compression phase of this cycle, measured using a 180-day rolling maximum/minimum range. This pattern mirrors the 2017 rally, where Bitcoin surged from $1,000 to $20,000 following a supply-driven squeeze and increased retail demand post-halving.Bollinger Bands also show tightening volatility, a technical signal often associated with imminent breakouts. As volatility builds, traders are closely watching for a decisive move, according to Cointelegraph.Liquidity Skew Suggests Upside Breakout More LikelyAccording to current liquidation data, a move to $110,000 would trigger approximately $3 billion in short liquidations, while it would take a drop to $94,612 to generate an equivalent amount in long liquidations. This asymmetry in risk positioning indicates a higher probability of BTC moving upward to clear sell-side liquidity.Technical analyst Gert van Lagen emphasized this outlook, stating:“A liquidation magnet is glowing above $107K, ready to vaporize billions in shorts. First, BTC soared on fear. Next, it'll rise on liquidations.” 
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