Bitcoin’s $110K Sprint Coincides With Record-Low Exchange Reserves
Summary
Bitcoin's price surged to over $110,000 before stabilizing around $109,450, recovering from a dip near $100,000. This rebound is driven by forced liquidations, increased derivatives volume, easing US-China trade tensions, and reduced on-chain supply. Nearly $203 million in Bitcoin positions were liquidated, mostly shorts, causing a short squeeze. Derivatives volume more than doubled to $110 billion, with open interest rising to nearly $77 billion. Centralized exchanges have seen a significant outflow of Bitcoin, tightening supply. Renewed accumulation among mid-sized wallets suggests long-term holding. Optimism for new all-time highs persists, but sustained growth depends on lasting demand and market conditions.
