Bitcoin Rises Past $110K, Standing at a Pivotal Moment for Future Direction

Bitcoin Edges Past $110K Amid Renewed Buying, Poised for Next Major Move

Bitcoin quietly pushed above the $110,000 threshold on Monday, extending its rebound from last week’s dip and positioning itself at a crucial crossroads for the next directional move. The largest cryptocurrency advanced 3.7% over 24 hours, trading just shy of its all-time highs set in May.

Ethereum followed suit with a 3.8% gain, climbing past $2,620. Notably, tokens like Hyperliquid and SUI outpaced the broader market, jumping 7% and 4.5%, respectively, signaling pockets of strong investor interest.

The rally triggered a sharp squeeze on bearish traders, liquidating over $110 million in short positions within a single hour. Overall, short liquidations topped $330 million on the day, the highest level since mid-May, underscoring a market shift toward bullish sentiment.

Traditional markets remained relatively flat, with the S&P 500 and Nasdaq barely moving. Meanwhile, crypto-linked equities bounced back, in line with Bitcoin’s weekend recovery.

Market watchers describe the current advance as a “peaceful rally,” with consistent higher highs and higher lows reflecting healthy buying momentum. “Whenever Bitcoin shows signs of weakness, buyers step in swiftly to support the trend,” said Caleb Franzen, founder of Cubic Analytics.

Following a volatile week marked by a 10% price correction and nearly $2 billion in derivative liquidations, the market now appears steadier. However, caution persists as on-chain data from Bitfinex highlights growing sell pressure among long-term holders.

“Bitcoin stands at a critical juncture, balanced between solid support levels and fading bullish momentum,” said Bitfinex analysts. “The next move will likely hinge on incoming macroeconomic data.”

Investors will be closely watching this week’s US-China trade discussions and Wednesday’s Consumer Price Index release for clues on broader market direction. Jake O, an OTC trader at Wintermute, emphasized the importance of these events: “Market reactions to these developments will likely dictate Bitcoin’s trajectory over the coming weeks.”