Bitcoin Hits All-Time High Of $109,500: What’s Next?
Bitcoin (CRYPTO: BTC) soared to a new all-time high on Wednesday, crossing $109,000 amid rising investor confidence and renewed momentum in the digital asset market.
What Happened: Bitcoin’s new high of $109,500 on Coinbase (NASDAQ:COIN), surpasses the previous record set in January, underlining Bitcoin’s resilience and growing role in macro portfolios.
The world’s largest cryptocurrency has staged a sharp recovery from its April 8 low of $76,320, a day that coincided with a broader downturn in equities driven by fears of a renewed U.S. trade conflict.
Since then, Bitcoin has rebounded over 40%, bolstered by both technical momentum and a favorable macroeconomic environment.
More than $50 million in short positions were liquidated within a single hour as the rally gathered steam, signaling a wave of forced buying and renewed bullish sentiment.
The surge in price is accompanied by fundamental strength: over 33,000 BTC were added to short-term holder supply in just the past week, while long-term holders have quietly accumulated nearly half a million BTC since …
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