Bitcoin crosses a historic course at $ 116,000

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

Discovered sellers trapped by the speed of the rise

While Bitcoin briefly reached $ 112,000 on July 9, the crossing of $ 116,000 by the flagship crypto on July 10 sparked a chain reaction on the derivative markets. In 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 Coinbaseafter several weeks of stagnation under $ 112,000;
• $ 560 million liquidated in just one hour, according to Coinglass informationmainly on selling 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 and the 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 declared.

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 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.