Bitcoin has surged past the $116,000 mark, marking a significant milestone with a 2% price increase over the past day. This impressive rise, fueled by substantial short liquidations of nearly $1.75 billion as well as strong institutional investment, reflects broader market optimism and heightened buy pressure. 24-hour trading data from Binance indicates Bitcoin’s current value sits at $116,110. This surge has ignited a wave of activity in the crypto space, with forced short liquidations exceeding $1.75 billion, which is driving increased buying activity and solidifying Bitcoin’s position within the market. 2% price increase, highlighting bullish sentiment across the cryptocurrency market. Key exchanges like Binance have played an essential role in data consolidation. No direct messages from leading figures such as Satoshi Nakamoto or executives at major exchanges exist at present. This surge has sparked interest among investors and traders alike, contributing to the overall rise of the crypto market, with the total market cap exceeding $4 trillion. The ripple effect is seen in the altcoin market as Ethereum continues its upward trajectory and Solana and BNB experience substantial gains. Institutions are playing a major role driving this trend as they see Bitcoin as a hedge against fiat currency devaluation and potential economic instability.