Bitcoin soars to new all-time high above $112K as traders liquidate shorts
Bitcoin price roared to a new all-time high above $112,000. Cointelegraph explains why.
Bitcoin soared to another record high, driven by growing global investor demand for risk assets and a $200 million liquidation of BTC shorts near a critical overhead resistance level.
Bitcoin’s (BTC) price surpassed the $112,000 all-time high for the first time on Wednesday, after rising 5.95% during the past week.
Bitcoin’s price appreciation helped the total crypto market capitalization recapture $3.47 trillion, a level last seen in June 2025.