🥳 Bitcoin Just Crashed the $110K Party

This morning, Bitcoin briefly gatecrashed the $110,000 club—hitting as high as $110,387—before slightly retreating to around $109,700 .

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🤯 Shorts Got Slaughtered

Traders betting Bitcoin would stumble faced a wake‑up call: over $280 million in short positions got liquidated. That includes about $101 million specifically on BTC shorts . Oops.

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📈 Why the Surge?

1. The U.S. ADP jobs report came in weaker, nudging markets toward hoping the Fed might cut rates – and that sent crypto into a frenzy .

2. However, when the actual non‑farm payroll figures landed hot (+147 k jobs, unemployment 4.1%), Bitcoin did a little tumble—shorting those rate cuts! .

3. ETF cash keeps flowing – Wednesday alone saw about $408 million into U.S. spot BTC ETFs .

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⚠️ Technical Tightrope & Next Hurdles

Resistance now lives around $110.3–110.5K, with support near $106–108K .

Chart nerds spotted a “bull‑flag” breakout, targeting $117K–$117.5K—assuming history doesn’t ghost them .

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😂 The Funny Bit

Bitcoin went “Hey, what if I pretend to be gold, inflation‑hedged, AND rate‑cut‑friendly all at once?”

Shorts: rubbing sleep from their eyes “But…but you said ‘crash!’”

BTC: sips a latte “Hold my block—I'm about to do a squeeze.”

Then jobs data dropped and BTC: facepalm, “Well that escalated quickly.”

TL;DR

Bitcoin hit $110K briefly, mowed down hundreds of millions in shorts, thanks to mixed U.S. job data, ETF inflows, and bullish technicals. Cue jokes about BTC deciding to lift the economy viewer‑discretion‑advised style—but don’t get too comfy: those unemployment numbers could still make it flip-flop.

$BTC

#BTCReclaims110K