This week, Bitcoin's price reached a new level, exceeding $111,000. This event has drawn the attention of traders and analysts.
Price Trends of Bitcoin
On Wednesday, Bitcoin hit an intraday high of $111,052 on the Bitstamp exchange. Currently, it is just shy of its record of $112,000, set on May 22.
Reasons for Price Surge
Data from CoinGlass indicates that over $187 million in short positions were liquidated in the past 24 hours alone. This shows strong buying activity. Bitcoin is strengthening amid growing spot ETF inflows and increasing corporate support.
Future of Bitcoin
Although Bitcoin attempted to reach a new record on July 3, this time the bulls seem confident. Given the current trends, it may continue to rise and potentially set a new record.
Bitcoin continues to show strong growth, which may lead to new records. As the situation unfolds, traders and investors remain hopeful for further market strengthening.
