#BTC再创新高 Bitcoin has indeed set multiple historical highs recently.

On July 10th, Beijing time, the price of Bitcoin broke the $112,000 mark for the first time, with an intraday increase of up to 3%. On July 11th, Bitcoin continued to rise to a new historical high. As of 7:42 AM Beijing time on July 11th, the price of Bitcoin had increased by over 3%, reaching $115,671.71, having earlier briefly surpassed $117,000, with an intraday increase of over 5%.

The new high for Bitcoin can be attributed to the following reasons:

- Short covering push: On July 10th, there was $280 million worth of Bitcoin shorts being closed at a critical point.