Bitcoin Breaks $110,000 Barrier; Crypto Market Sees Increased Volatility

Bitcoin has surged past the $110,000 mark, triggering a significant increase in liquidation activity across the cryptocurrency market. This surge is largely attributed to the closing of short positions, with platforms like Hyperliquid playing a major role in these actions. According to CoinGlass data, Bitcoin liquidations alone amounted to over $169 million within a single day, while Ethereum followed closely behind at $160.53 million. This development has brought heightened volatility to the market, drawing attention to the risks associated with futures trading.