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Bitcoin Hits New High at $113,400, $600M in Shorts Liquidated
Yesterday’s breakout to $112,000 did not result in a new price record, but that changed today. Bitcoin has now reached a new all-time high of $113,400.
Many altcoins also saw significant gains over the past 24 hours — ETH rose above $2,800, and DOGE jumped by more than 5.5%.
BTC had spent several weeks in a consolidation phase, with a lower boundary at $105,000 and an upper one at $110,000. However, it finally showed signs of a potential breakout yesterday — possibly following Trump’s call for the Fed to cut interest rates.
While there was a rejection at $112,000 yesterday, today BTC bounced back slightly as bulls resumed their charge a few hours ago, lifting the cryptocurrency to a new peak at $113,400.
Given the impressive surge in altcoin prices over the past 24 hours, it's no surprise that total liquidations reached a multi-week high of $600 million.
Naturally, the majority were short positions — including one placed by an anonymous crypto whale worth $51 million.
In the last hour alone, liquidations exceeded $80 million as BTC and most altcoins began to recover.
See also: "Cryptocurrency Prices Today: Altcoins Rally, Ethereum Leads Gains"
