Bitcoin surges above $115,000, millions in short positions liquidated
The Block
Bitcoin rose above $115,000, driven by positive macroeconomic signals and significant short position liquidations.Summary
Bitcoin surged to $115,179, its highest level in two weeks, with Ether also rising significantly, fueled by trader optimism regarding potential U.S.-China trade deal progress and anticipated Federal Open Market Committee interest rate cuts. This price recovery triggered substantial short liquidations, with approximately $347.5 million in short positions covered in the past day, accelerating the upward price movement in a classic short squeeze dynamic. Analysts suggest this momentum could continue, pointing towards a potential "Santa Claus Rally" and projecting Bitcoin could reach $130,000 to $150,000 by the end of 2025.
(Source：The Block)