Bitcoin skyrockets, reigniting investor enthusiasm
On Monday evening, Bitcoin surged above the $110,000 mark for the first time in nearly two weeks, reaching $110,286. The price jump of 3.6% in the past 24 hours triggered a wave of short position liquidations, wiping out over $323 million, including $196 million in Bitcoin alone.
U.S.–China trade talks and crypto IPO boom boost sentiment
The sharp rise was fueled by renewed trade negotiations between Washington and Beijing, which investors hope will lead to reduced tariffs and more stable global relations. Delegations led by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to continue talks in London on Tuesday.
Another major catalyst is the recent wave of cryptocurrency-related IPOs:
🔹 Circle, issuer of the USDC stablecoin, debuted on the NYSE last week with its stock jumping over 168% on the first day.
🔹 Crypto exchange Gemini, founded by the Winklevoss twins, has also filed for an IPO.
According to David Siemer, CEO of Wave Digital Assets, this IPO boom might be short-term hype, but institutional interest in crypto remains strong for 2025.
Short liquidations signal fading bearish sentiment
Data from CoinGlass reveals that nearly $323 million in short positions were liquidated over the past 24 hours, reflecting a significant shift in sentiment.
🔹 Bitcoin accounted for the bulk of these losses.
While spot Bitcoin ETFs have seen outflows in five of the last seven sessions, Ethereum ETFs continue to draw capital and have seen 15 consecutive days of inflows.
Altcoins and meme coins follow Bitcoin’s lead
The entire market benefited from Bitcoin’s rise:
🔹 Ethereum (ETH) jumped 4.5% to $2,679
🔹 Solana (SOL) added over 3%, trading near $160
🔹 Dogecoin climbed 4.5%, and Shiba Inu rose 2.5%
Analysts see potential breakout toward $120K
“Bitcoin breaking above $110,000 for the first time in two weeks signals renewed bullish momentum after a period of consolidation,” said Joe DiPasquale, CEO of BitBull Capital. He noted that if BTC holds this level, it could soon target $120,000.
10X Research also highlighted that the current market structure has shifted significantly compared to just a few weeks ago. A combination of negative funding rates, spot demand increase, and bottoming patterns indicates a high-confidence setup for further growth.
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