Bitcoin soars to new all-time high above $112K as traders liquidate shorts

Bitcoin price roared to a new all-time high above $112,000. Cointelegraph explains why.

Bitcoin soared to another record high, driven by growing global investor demand for risk assets and a $200 million liquidation of BTC shorts near a critical overhead resistance level.

Bitcoin’s (BTC) price surpassed the $112,000 all-time high for the first time on Wednesday, after rising 5.95% during the past week.

Bitcoin’s price appreciation helped the total crypto market capitalization recapture $3.47 trillion, which marks an over four-month high last seen in June 2025.

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