Bitcoin crosses a historic course at $ 116,000

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Bitcoin crosses historic course $:

3h30 ▪ 4 min in reading ▪ By Luc Jose A.

Bitcoin has just crossed the bar of $ 116,000, reaching an unprecedented summit which sparked massive liquidations on the derivative market. For example, This dazzling push exposes the extreme vulnerability of short positions, swept by the force of the bullish movement. Meanwhile, Beyond the technical shock, this historical crossing challenges the market balance and the new power of institutional flows.

In short

• Bitcoin crosses a new historic summit at $ 116,734, marking an increase of 4.8 % in 24 hours, according to Coinbase.
• This spectacular increase causes a massive wave of liquidations, with more than $ 912 million in positions liquidated in 24 hours.
• Facedless sellers (shorts) are the main victims: $ 425 bitcoin crosses historic course $ million liquidated on Bitcoin in one hour.
• In parallel, several altcoins are clearly progressing, like Ethereum (+8 %), Dogecoin (+6 %) and XRP (+5.5 %).

Discovered sellers trapped by the speed of the rise

While Bitcoin briefly reached $ 112. Meanwhile, 000 on July 9, the crossing of $ 116,000 by the flagship crypto on July 10 sparked a chain reaction on the derivative markets. In addition, In a few hours, open sellers underwent massive losses, unable to anticipate the extent of the Haussier movement. This scenario, already observed in the past, has occurred here with an intensity rarely affected.

Here are the important facts, according to Coinglass and Coinbase data:

• +4.8 % in 24 hours: Bitcoin price jumped to 116. 734 dollars, according to Coinbase, after several weeks of stagnation under $ 112,000;
• $ bitcoin crosses historic course $ 560 million liquidated in just one hour, according to Coringlass information, mainly on sales positions;
• $ 425 million in these liquidations exclusively concern short positions, which reports a strong decreased exposure;
• Over the last 24 hours, $ 912 million in positions have been liquidated throughout the Crypto market;
• Among these losses, 542 million correspond to short positions on Bitcoin only, the overwhelming majority;
• Barely $ 5 million in these losses are linked to long positions, which confirms the asymmetry of the movement.

This phenomenon of cascading liquidation, nourished by the lever effect, has strengthened upward dynamics. When open sellers are forced to close their positions. they involuntarily feed the price rise, a well -known process on the speculative markets.

This Haussier vicious circle testifies to the brutality of the reversals that an ultra-reactive cryptocurrency market can cause. even in the face of steep investors.

The ETF effect. the bitcoin crosses historic course $ massive arrival of a new audience

Beyond the liquidations, several fundamental engines explain the current vigor of the market. Joe Dipasquale. CEO of the Crypto Bitbull Capital management company, specifies that “We are probably on the way to even higher levels”.

It attributes this movement to a combination of powerful factors: “The Bitcoin rally is powered by a combination of solid influx in ETFs. a renewed institutional demand and a favorable macroeconomic environment, while investors anticipate Fed rate reductions,” he said.

These influx in ETFs, recorded over several days, report a renewed confidence of major market players. At the same time, the return of a “risk-on” climate benefits the cryptos as a whole. Several altcoins bear witness to this: Ethereum increases by almost 8 % to $ 2,970, Dogecoin jumped from 6 % to 0.192 dollars and the XRP gains 5.5 % to 2.55 dollars, which illustrates a general recovery bitcoin crosses historic course $ of the market beyond Bitcoin alone.

This configuration could create a new phase of institutional accumulation, or even trigger a more structural revaluation of cryptos. However. it also includes risks: excessive dependence on ETF flows, an excess of confidence linked to monetary policies and always latent volatility.

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Luc Jose A.

A graduate of bitcoin crosses historic course $ Sciences PO Toulouse. holder of a Blockchain consultant certification issued by Alyra, I joined the Cointribuna adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy. I made the commitment to raise awareness and inform the general public about this constantly evolving ecosystem. My goal is to allow everyone to better understand the blockchain and to seize the opportunities they offer. I strive every day to provide an objective analysis of the news. to decipher market trends, to relay the latest technological innovations and to put into perspective the economic and societal issues of this revolution in progress.

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Bitcoin crosses historic course $

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