- Bitcoin set new ATH of $112,000 on Binance.
- Amid the surge $192 million worth of Bitcoin shorts were liquidated in under 60 minutes.
- The next major BTC pump target is set at $135,000.
The crypto community is celebrating the sudden pump in Bitcoin (BTC) price. Over the last few days, the pioneer crypto asset was trading steadily between the $108,000 and $110,000 price range. Suddenly BTC price shot past its previous ATH in the $111,900 price range to hit a new ATH. Specifically, Bitcoin set new ATH of $112,000 on Binance, leading to $192,000,000 worth of Bitcoin shorts liquidated under 6 minutes.
Bitcoin Set New ATH of $112,000 on Binance
Ever since Q2 closed in a bullish green, marking the most bullish close in Bitcoin and crypto history, the crypto community has been patiently waiting for a greater move in the crypto market, starting with Bitcoin (BTC). The pioneer crypto asset has had a very interesting bull cycle so far. To recall, the price of BTC has been breaking records everywhere, starting with setting a new ATH price this bull cycle, before the Bitcoin Halving event even occurred.
This led to a surprising turn of events, as the price of BTC then went on to shit a string of new ATHs that took the price fo BTC from $70,000 value, to setting its first ever 6-digit prices by Q1 of 2025. So far, every Q1 following a Bitcoin Halving year has always ushered in that bull cycle’s altseason peak phase. However, this cycle, due to BTC’s early pump, the crypto market went into a prolonged correction phase instead.
$192,000,0000 Bitcoin Shorts Liquidated
Many analysts recognized this correction phase as a much-needed healthy correction that would bring about a healthier market, which would mean new ATH prices soon. The correction phase lasted the entire Q1, meaning Q2 had the opportunity to offer bullish pumps. Unfortunately, due to geopolitical tensions, crypto prices continued to fluctuate but did not fall below the 6-digit price mark.
In fact, by Q3, Bitcoin especially was showing incredible strength and resilience, this unwavering price hold made analysts sure that a bullish upturn was on the horizon, and it seems that the wait has finally paid off. As we can see from the post above, Bitcoin just set a new ATH of $112,000 on Binance, breaking past its previous ATH set in the $111,900 price range. Analysts expect the next major pump target to be $135,000 for Bitcoin (BTC).
In the wake of this sudden BTC price pump, the crypto market saw massive liquidations for BTC shorts. In detail, $192,000,000, almost $2 million, was liquidated in the form of Bitcoin shorts in under 60 minutes. While some analysts expect another small pump before a major surge past the $114,000 price range, other expect a direct pump to the next ATH target between $135,000 – $137,000.
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