NEW YORK / LONDON (IT BOLTWISE) – Bitcoin has hit a new high of over $115,000, prompting massive short position liquidations. This development is supported by positive macroeconomic signals and the prospect of improving trade relations between the US and China.
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Bitcoin has seen a remarkable rise and surpassed the $115,000 mark, resulting in significant short position liquidations. This price movement is supported by positive macroeconomic signals and the prospect of improving US-China trade relations. Analysts see this development as a possible start of a longer-term upward movement.
The recent price increases in Bitcoin and other cryptocurrencies such as Ether, XRP and Solana are not just due to short-term speculation. Rather, they reflect a broader market movement driven by macroeconomic factors such as the expected interest rate cut by the US Federal Reserve and the prospect of an agreement in the US-China trade dispute. These factors could ease pressure on global supply chains and increase confidence in risky investments.
Another important factor in Bitcoin’s price rise is the massive liquidation of short positions. In just 30 minutes, $160 million worth of short positions were liquidated, resulting in a classic short squeeze. This momentum reinforced the upward move and could be a signal of a sustained bullish phase, experts said.
Traditionally, the crypto market experiences a so-called ‘Santa Claus Rally’ towards the end of the year, where prices rise due to liquidity and portfolio adjustments. Analysts expect this trend to continue this year, especially with the upcoming halving cycle in 2024. Bitcoin could even reach $150,000 by the end of 2025, which would represent a significant increase in value.
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