Bitcoin Reaches New High of $110,838 Amidst Potential Short Squeeze

Bitcoin’s price surged past the $110,838 mark in recent hours, reflecting a strong upward trend after briefly dipping below $107,000 last week. The surge pushes Bitcoin’s market capitalization closer to $2.2 trillion. This recovery comes on the heels of a sharp market downturn during October. Analysts predict this price bounce could be a sign of a larger reversal if buying pressure persists above key resistance levels.