Bitcoin Surges 2% to $110,000 as Short Sellers Liquidate $323 Million

Bitcoin has once again surpassed the $110,000 mark, a level not seen in two weeks, indicating a significant shift in the cryptocurrency market. This movement is not merely a rebound but a technical break that suggests a reconfiguration of the forces driving the crypto market, including price dynamics, speculative positions, and institutional arbitrage.

This surge in Bitcoin's value comes amidst a more optimistic global market sentiment, fueled by the resumption of trade talks between the United States and China. These discussions have helped to ease market tensions, which had previously contributed to instability. The renewed optimism is reflected in risk assets, with Bitcoin serving as a key indicator.

The crossing of the $110,000 threshold triggered a wave of liquidations, with nearly $323 million in short positions closed over 24 hours, including $196 million on Bitcoin alone. Negative funding on multiple platforms suggests that short sellers had dominated the market before this reversal, exacerbating the bullish move once technical levels were breached. This renewed momentum could pave the way for a new attempt to reach $120,000, as the current threshold is less than 2% away from the previous all-time high of $111,814 set in May.

Beyond the numerical significance, this move is driven by a series of cyclical and structural triggers, including a calmer geopolitical environment, favorable market data, and mechanical activation of liquidations. This bullish surge is not isolated; other assets such as Ethereum, Solana, Dogecoin, and Shiba Inu have also experienced notable gains, though driven by different factors.

Ethereum crossed $2,640, a 4.5% increase, while Solana rose over 3%, nearly $160. Memecoins, often more sensitive to movements, also benefited from the momentum, with Dogecoin advancing 4.5% and Shiba Inu rising 2.5%. These performances fit within a context of technical rebound but do not all rest on the same fundamentals as Bitcoin.

On the structured financial instruments side, trends are more contrasted. Spot Bitcoin ETFs experienced five days of net outflows over the last seven, showing some short-term institutional interest fatigue. Conversely, Ethereum ETFs show a continuous fifteen-day streak of net inflows, signaling stronger appetite for the asset, likely driven by prospects for new uses linked to asset tokenization and decentralized finance.

This asymmetry between flows on Bitcoin and Ethereum could announce a gradual rebalancing within the crypto market. While Bitcoin retains its role as a general barometer and sector safe haven, Ethereum seems to be progressively regaining institutional interest thanks to a differentiated technological proposition. Although less structural, the dynamics of memecoins also show that speculation remains very much alive, which could amplify short-term volatility. In any case, the resilience displayed by altcoins and current technical signals open the way to a potentially decisive crypto summer.