Bitcoin Breaks $117K Barrier: Liquidations Shake Up Market, Fueling Bullish Sentiment

Bitcoin prices soared 5% to hit a new all-time high of $117,300 this week, fueled by Federal Reserve Chair Jerome Powell’s suggestion of potential interest rate cuts. This price surge resulted in over $379 million worth of short positions being liquidated, shaking up the market atmosphere. Analysts are optimistic about Bitcoin’s upward trend, with some predicting a further rise to $200,000 before year-end.