Bitcoin Hits New All-Time High $112,000 on Binance, $192 Million Shorts Liquidated

Bitcoin (BTC) has reached a new all-time high (ATH) of $112,000 on the Binance exchange. This surge in price led to a significant liquidation of short positions, with $192 million worth of Bitcoin shorts being liquidated in under 60 minutes. The crypto community has been eagerly awaiting this price movement, as Bitcoin has been trading steadily between $108,000 and $110,000 over the past few days. The new ATH marks a significant milestone for the pioneer crypto asset, which has been breaking records throughout its bull cycle.

This price surge comes after a period of correction in the crypto market, which many analysts recognized as a healthy phase that would lead to new ATH prices. The correction phase lasted throughout the first quarter of the year, but Bitcoin's resilience and strength in the third quarter indicated that a bullish upturn was on the horizon. The new ATH of $112,000 on Binance confirms this expectation, with analysts now setting their sights on the next major pump target of $135,000 for Bitcoin.

The sudden price pump has also resulted in massive liquidations for BTC shorts, with $192 million worth of short positions being liquidated in under an hour. This liquidation event highlights the volatility and risk associated with shorting Bitcoin, as the price surge caught many traders off guard. While some analysts expect another small pump before a major surge past the $114,000 price range, others predict a direct pump to the next ATH target between $135,000 and $137,000.

This price movement is significant for the crypto community, as it marks a new milestone in Bitcoin's bull cycle. The pioneer crypto asset has been breaking records throughout the year, with its price surging past the $70,000 mark and setting its first-ever 6-digit prices by the first quarter of 2025. The new ATH of $112,000 on Binance is a testament to Bitcoin's strength and resilience, as well as the growing interest and investment in the crypto market.