Bitcoin price recently hit a record high of $106,500, driven by a rare bullish signal and liquidity event. This move comes after a short-term correction triggered a market liquidity grab that wiped out nearly $673 million in crypto liquidations. analysts attribute this surge to expanding DeFi applications and growing institutional interest. The Market Cap vs. Realized Cap Ratio, an on-chain metric tracked by independent analyst Markus Thielen, is now positive again – mirroring conditions seen before Bitcoin’s 2020 breakout. This rare shift reignites calls for a renewed price rally towards $130,000. Despite the short-term volatility, this bullish signal suggests a potential upward momentum for Bitcoin in the coming weeks.