Bitcoin Hits $110K Milestone as $454M in Liquidations Shake Markets

Bitcoin surged to a new all-time high of $110,000 on Thursday, coinciding with $454 million (₱25.2 billion) in crypto liquidations over the past 24 hours. The milestone followed the cryptocurrency’s recent low of $76,320 on April 8.

Key details

• Bitcoin peaked at $110,000 early Thursday morning.
• Total crypto liquidations reached $454.03 million in 24 hours.
• 120,636 traders were liquidated, with the largest single order valued at $5.04 million on Binance.
• Liquidations were heavily skewed toward short positions, comprising 58% of the total.

The previous record of $109,358 occurred in January during the U.S. presidential inauguration. Digital assets have moved independently from equities as concerns about global trade policies affected broader markets.

Market data and analysis

• Bitcoin crossed the $100,000 mark again on May 8, its first return to six figures since Feb. 4.
• Analysts attributed the movement to recent geopolitical developments, legislative changes, and macroeconomic indicators.
• Neutral funding rates and increased activity among large holders were reported.

Short-term volatility remains a factor. Analysts indicated that market responses to geopolitical or regulatory updates could impact price direction.

This article is published on BitPinas: Bitcoin Hits $110K Milestone as $454M in Liquidations Shake Markets

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