Bitcoin’s price reached an all-time high of $119,400, triggering the liquidation of over $330 million worth of bearish bets (shorts). This substantial move was driven by institutional investment and leveraged trading, leading to a dramatic surge in Bitcoin value. 110,000 accounts globally were affected by these liquidations, as exchanges like Binance and CME Group processed the majority of these positions. The increase reflects the growing interest from hedge funds and pension plans in Bitcoin for portfolio diversification and inflation hedging. 24/7 crypto futures trading is expected to launch on CME Group’s platform by 2026, further indicating institutional adoption.