Bitcoin Breaks $122K Barrier, Approaches All-Time High Amid Market Rally

Bitcoin’s price has soared past the $122,000 mark, edging closer to its record high of $123,000 set in July 2025. This surge has ignited a broader crypto market rally, triggering over $361 million worth of futures contract liquidations. Trading activity shows significant momentum as Bitcoin traders liquidated nearly $215 million worth of short positions and $146 million from long positions. A total of 110,524 traders experienced losses, with Bitcoin and Ethereum being the most heavily affected sectors accounting for roughly $115 million and $94 million respectively.