Bitcoin Breaks Above $110K, Poised at a Crucial Inflection Point
Bitcoin quietly climbed past the $110,000 mark on Monday, extending its recovery from last week’s decline and positioning itself at a critical inflection point for its next significant move. The world’s largest cryptocurrency gained 3.7% over the past 24 hours, trading just below its all-time high reached in May.
Ethereum followed with a 3.8% gain, pushing above $2,620, while altcoins like Hyperliquid and SUI outperformed the market with gains of 7% and 4.5%, respectively, signaling renewed investor interest across sectors.
The sharp price surge sparked a notable short squeeze, liquidating more than $110 million in bearish positions within a single hour. Overall, short liquidations hit $330 million on Monday—the highest in over a month—highlighting a strong shift in market sentiment toward the bulls.
Traditional equities markets remained largely unchanged, with the S&P 500 and Nasdaq showing minimal movement. Meanwhile, crypto-focused equities rebounded, tracking Bitcoin’s weekend recovery.
Analysts describe the rally as measured and steady. Caleb Franzen, founder of Cubic Analytics, remarked, “Bitcoin’s ability to consistently form higher highs and higher lows reflects a resilient buying base ready to defend the trend.”
Following a volatile week marked by a 10% correction and nearly $2 billion in crypto derivatives liquidations, the market now appears to have found firmer footing. However, Bitfinex analysts caution that growing sell pressure from long-term holders could temper further gains.
“Bitcoin is at a crossroads, supported by solid technical levels but facing waning momentum,” they said. “Upcoming macroeconomic events will be crucial in determining its next direction.”
Market participants will closely watch this week’s US-China trade discussions and Wednesday’s Consumer Price Index report, with OTC trader Jake O from Wintermute noting, “The reaction to these developments will likely set the tone for Bitcoin’s near-term trajectory.”
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