Bitcoin’s unstoppable rally continues as the world’s largest cryptocurrency soars to $122,000, marking a fresh all-time high and intensifying bullish sentiment across the market.
Market Highlights:
- Current Price: $122,000
- 24H Change: Strong upward momentum following a wave of short liquidations.
- Recent Liquidations: $30 million in Bitcoin shorts wiped out in the past hour, fueling the surge.
Key Drivers Behind the Rally:
- Short Squeeze Effect: Bearish traders forced to buy back positions, adding fuel to the rally.
- Institutional Demand: Continued accumulation by major firms and corporate treasuries.
- Macro Tailwinds: Optimism over regulatory clarity and increased crypto adoption in global markets.
CentBit Insight:
With Bitcoin blasting past $120K resistance, traders are now eyeing $125K as the next psychological target. The recent short squeeze could trigger even sharper moves if bullish momentum holds.
