Bitcoin: The world of cryptocurrency is once again buzzing with excitement as Bitcoin (BTC) made a remarkable leap past the $117,000 mark, leaving investors hopeful and short-sellers shaken. Just days ago, Bitcoin was struggling near its six-week low of $111,600. But with Powell’s remarks, market sentiment flipped dramatically, propelling BTC to an intraday high of $117,300 on Bitstamp.
Massive Liquidations Shake the Market
The surge wasn’t just a price movement it was a market reset. More than $379 million worth of short positions were liquidated, catching traders off guard. Ether (ETH), too, joined the momentum with a stunning 15% rise to $4,760, accounting for nearly half of those liquidations.
In total, the market witnessed over $629 million wiped out in both short and long positions, affecting more than 150,000 traders worldwide. The rapid shift showed just how powerful Bitcoin’s liquidity zones can be, with data revealing that ask orders between $117,000 and $118,000 were quickly consumed as BTC continued its upward momentum.
Analysts Confirm the Uptrend
Market experts believe this could be the beginning of Bitcoin’s next big rally. Michael van de Poppe, founder of MN Capital, pointed out that BTC’s recent dip below $112,000 offered an excellent buying opportunity for traders who were waiting for the perfect entry. He confidently stated, “Uptrend is back.”
Predictions Point to $200,000
The optimism doesn’t stop there. Several industry voices have painted an even bigger picture for Bitcoin’s future. Analyst BitQuant reaffirmed his $145,000 cycle-top target, while Bitwise’s head of European research, André Dragosch, suggested that political support in the U.S. could fuel an even stronger rally. With President Donald Trump’s move to allow crypto investments in 401(k) retirement plans, some forecasts now suggest Bitcoin could soar to $200,000 before the year ends.
The Bigger Picture
This latest surge highlights how sensitive Bitcoin remains to macroeconomic signals like interest rates. With inflation worries cooling down and a rate cut potentially on the horizon, investors are regaining confidence in digital assets. If these bullish predictions hold true, Bitcoin could be gearing up for one of the most historic rallies in its lifetime.
Disclaimer: The information in this article is for educational and informational purposes only. It should not be considered financial or investment advice. Cryptocurrency markets are highly volatile, and readers are encouraged to conduct their own research or consult a financial advisor before making investment decisions.
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