Bitcoin News Today: Bitcoin Surges Past $112,500 as $18 Billion Short Squeeze Looms

Bitcoin is showing compelling bullish momentum as it consolidates above key support levels, with analysts forecasting a potential surge toward $145,000. The cryptocurrency, currently trading near $117,000, has broken out from a descending wedge pattern, a classic technical signal of a potential reversal toward higher prices [1]. This development, combined with the accumulation of $18 billion in short positions on exchanges like Binance, OKX, and Bybit, signals a growing risk of a short squeeze that could accelerate upward price movement [2].

Analysts are closely monitoring Bitcoin’s ability to maintain its position above $112,500, a level that has previously acted as a critical support. If the price continues to rise and reaches $125,000, it could trigger a wave of forced buying as short positions face liquidation, potentially propelling the asset toward record highs [3]. Over $800 million in shorts have already been liquidated, further reinforcing the bullish pressure [3].

Doctor Profit, a prominent market analyst, has projected a price target range of $140,000 to $145,000, emphasizing that the current structure is strongly favoring buyers [1]. He notes that while a brief consolidation phase could occur, the projected price targets are only 20–30% above current levels, suggesting that the move toward those targets is not only feasible but already gaining traction.

Merlijn The Trader offers a more aggressive outlook, viewing the recent dip as a strategic setup ahead of a breakout. He highlights Bitcoin’s retest of key resistance-turned-support at $112,500 as a sign that both retail and institutional investors are stepping into the market, further solidifying the bullish sentiment [1].

The short squeeze risk is intensifying as the $125,000 threshold looms closer. According to Bitcoin Archive, a level breach could trigger cascading liquidations that add to the upward momentum [3]. The combination of strong technical setups and heavy bearish positioning creates a self-reinforcing cycle, where rising prices force more short sellers to cover their positions, which in turn pushes prices even higher.

As the market prepares for a potentially volatile phase, traders are advised to remain cautious but also recognize the strength of the current bullish narrative. Institutional interest and robust retail participation continue to underpin demand, suggesting that the trajectory toward new highs is supported by a broad base of market participants [3].

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[1] title1.............................(https://cryptofrontnews.com/bitcoin-targets-145k-as-bullish-breakout-and-18b-short-squeeze-loom/)