Bitcoin Breaks Three-Month High on Massive Liquidations

Bitcoin soared to a three-month high of $99,406 after short positions were drastically liquidated, fueling the market’s upward movement. Data from CoinGlass reveals that over the past 24 hours, cryptocurrency market capitalization increased by 2.7%, reaching a substantial $3.06 trillion. This surge was accompanied by a significant jump in trading volume to $104.3 billion, contributing significantly to short positions being ruthlessly liquidated.