Bitcoin Breaks $107,000 Barrier Amidst US-China Trade Talk Developments

Bitcoin’s price surged past the $107,000 mark during European trading hours, defying morning dips and indicating a strong bullish sentiment. The cryptocurrency saw significant gains after liquidating around $60 million of short positions within the last four hours alone. This activity was fueled by notable whale activity on decentralized exchange Hyperliquid, which saw a large whale deposit $5.5 million in USDC and initiate a leveraged long position worth $53.6 million. 1 2 Crypto news platform CryptoPotato reported on Twitter the whale’s bold move, highlighting its significant impact.