On July 9, 2025, Bitcoin surpassed the $112,000 mark, setting a new record and reigniting discussions about further growth in the crypto market.
New Bitcoin Record
Bitcoin reached a new all-time high by surpassing $112,000. The surge was driven by the liquidation of $200 million in short positions, resulting in a significant increase in demand for the cryptocurrency.
Factors Contributing to Growth
Analysts from the Bitfinex platform noted that the liquidation of short positions strengthens the market by eliminating excess leverage. Investor confidence, supported by real capital flows, has also influenced the market. Additionally, recent tariff announcements by the Trump administration have heightened demand for Bitcoin.
Bitcoin's Prospects
Some analysts suggest that the next target for Bitcoin could be $120,000. Sustained demand and accumulation by investors further support the notion that Bitcoin may serve as an alternative to fiat currencies amid economic uncertainty.
The current surge in Bitcoin, fueled by the liquidation of short positions and external factors, may lead to a new phase in the cryptocurrency market, with a primary goal of reaching $120,000.
