Bitcoin Breaks Through $100K, Unleashing Short Squeeze and Market Surge

Bitcoin’s recent surge above $100,000 triggered a significant short squeeze, resulting in substantial liquidations across the cryptocurrency market. This notable price movement comes amidst increased volatility and potential for corrections as Bitcoin continues to navigate its trajectory. 63.64% of BTC/USDT positions on Binance were positioned as bearish bets, leading to a forceful liquidation of these shorts. The bullish momentum was so strong that it left short-sellers reeling while pushing the entire crypto market into green territory.