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Bitcoin Blasts Past $118K to Hit New All-Time High- Eyes Turn to $150K Target
Bitcoin has shattered its previous all-time high, soaring past the psychologically important milestone of $118,000. This significant breakthrough marks a new chapter in the cryptocurrency’s meteoric rise, with many now focusing on the potential for further growth towards $150,000.
The recent surge saw Bitcoin (BTC) breach this critical resistance level, as it has continued to defy predictions of a decline. Despite previous doubts about its ability to break through the $110,530 barrier, Bitcoin has successfully overcome this hurdle and is setting new highs.
This rapid upward trend began earlier in the week, which has not only rekindled bullish sentiment but also led to bearish traders being forced to unwind their positions at significant losses. The price increase has prompted a staggering $912 million in total liquidations over 24 hours, with Bitcoin shorts accounting for an astonishing $542 million of these losses.
The renewed market strength is evident across derivatives and spot markets, as investors shift capital into major altcoins, such as Ethereum, Dogecoin, and XRP. Notably, sentiment has shifted dramatically, now favoring the bulls after a prolonged period of consolidation.
Source: www.crypto-news-flash.com
