🚀 Bitcoin Smashes All-Time High: $453M Short Positions Wiped Out in Market Frenzy

Bitcoin just bulldozed through resistance like a crypto wrecking ball—sending bears scrambling as liquidations hit $453 million. The king of crypto isn’t just winning; it’s humiliating skeptics.

The carnage in charts: Every short seller’s nightmare became reality as BTC punched through its previous ATH. No mercy, no pullbacks—just pure bullish domination.

Wall Street’s tiny violin: Traditional finance ‘experts’ who dismissed Bitcoin at $30K are now recalculating their life choices. Meanwhile, decentralized finance keeps printing generational wealth—no permission needed.

This isn’t just a rally. It’s a financial revolution with a body count (of leveraged positions). Buckle up—volatility’s back in town, and she’s wearing a Bitcoin logo.

Bitcoin Breaks Through Long-Held Resistance

Bitcoin had been consolidating just under its ATH for weeks, but finally surged above the critical resistance level. It briefly touched $112,000 before retracing slightly to around $111,000. Despite the small pullback, market structure remains strong, and sentiment has turned bullish.

This breakout has reignited Optimism across the crypto sector, driving up prices for altcoins as well. Ethereum rose by 4.5%, and Sui (SUI) posted a 9% gain in the past 24 hours. Traders are now watching to see if Bitcoin can hold above its previous high and begin a sustained price discovery phase.

Massive Short Liquidations Rock the Market

Short liquidations happen when traders betting against the market are forced to close their positions after sudden price increases. The intense spike in Bitcoin’s price caught many off guard, resulting in a large-scale short squeeze.

Liquidations added further fuel to Bitcoin’s price rise, creating a feedback loop. As prices jumped, more shorts were liquidated, pushing the price even higher. These events are common in highly Leveraged crypto markets, and this one was particularly impactful.

Open Interest Confirms Bullish Momentum

Glassnode data shows that Open Interest—the total number of active futures contracts—has remained high throughout the rally. This indicates that new long positions are entering the market instead of existing traders closing out.

When Open Interest rises alongside price, it suggests fresh capital and stronger confidence are entering the market. This pattern supports the view that the current rally has room to grow, rather than signaling an imminent top.

Bitcoin Enters Price Discovery Mode

Now that Bitcoin has surpassed its all-time high, the next resistance levels are hard to pinpoint. Many analysts are watching closely to see whether BTC can hold above $112,000 and begin climbing into price discovery territory.

Technical indicators remain supportive. BTC has formed higher lows in recent weeks and maintains strong support at $109,000. The 50-day moving average sits at $106,800, while the 200-day average remains well below current price levels, around $96,600—confirming the strength of the long-term bullish trend.

Ethereum and Altcoins Join the Rally

Bitcoin’s momentum has lifted the broader crypto market, with Ethereum approaching a critical resistance zone at $3,000. Altcoins like Solana (SOL), Avalanche (AVAX), and Sui (SUI) have also seen solid gains, riding the wave of market optimism.

Ethereum’s increased futures volume and rumors of an upcoming staking ETF approval have fueled additional investor interest. This altcoin rally shows that capital is flowing beyond Bitcoin, which could help sustain bullish sentiment in the coming weeks.

Sentiment Remains Greedy as Bulls Take Control

The Crypto Fear & Greed Index remains in the “Greed” zone, reflecting high confidence among both retail and institutional investors. Traders appear to be more comfortable with risk and are betting on further upside.

Still, market experts warn against excessive leverage. While shorting bitcoin right now appears highly risky, going too long without risk management can also backfire if the market corrects suddenly.

What Comes Next for Bitcoin?

With Bitcoin now trading around $111,000 and eyeing a confirmed breakout above $112,000, many analysts believe the next major target could be $120,000 or even $130,000 in the coming weeks.

If Bitcoin clears its immediate resistance levels with high volume, it could trigger another wave of liquidations and push the market into full-blown price discovery mode. However, if bulls fail to sustain the rally, a retest of support at $109,000 is possible.

Conclusion

Bitcoin’s new ATH at $112,000 marks a pivotal moment in the 2025 bull cycle. With over $453 million in shorts liquidated, the rally has cleared out bearish pressure and opened the door for more upside.

Altcoins are also gaining momentum, and sentiment across the board remains positive. With exchange inflows dropping and investors holding strong, Bitcoin could be on the verge of another explosive leg up—one that pushes it DEEP into uncharted territory.