Yi Hsiang Kang @yhk888: "**Bitcoin Breaks $110,000 – What’s..."

Taiwan

**Bitcoin Breaks $110,000 – What’s Driving the Surge?** Over the past 24 hours, BTC has rocketed higher thanks to a powerful mix of a massive short squeeze, bullish macro news, and whale buying activity. --- 1. Short Squeeze • $435.90 M liquidated in the last 24 hrs—$381.27 M in shorts and $54.63 M in longs • Funding rates turned negative, forcing short positions to cover and fueling the squeeze 2. Macro & News Catalysts • Optimistic signals from renewed US–China trade talks have lifted risk appetite • Solid US May jobs data pushed the dollar briefly lower, redirecting capital into crypto • A brief hack of Paraguay’s presidential social account falsely claiming BTC reserves spurred FOMO buying 3. Whale & Institutional Flows • Multiple 1,000 BTC+ wallets net bought around the $108K level, signaling large-scale accumulation • A few wallets placed 20× leveraged long orders exceeding $50 M • Spot BTC ETFs remain in net inflow overall, with institutions continuing to deploy capital 4. What to Watch Next • Funding Rates: Persistent negatives could extend the squeeze; a flip positive may trigger profit-taking • Open Interest: Elevated levels suggest high leverage and potential for increased volatility • On-Chain Whale Transfers: Track 1,000 BTC+ wallet movements to gauge big-player sentiment • Macro Developments: Follow US–China negotiations, any repeat of the Paraguay hack, and Fed policy decisions $BTC $ETH $IBIT (iShares Bitcoin Trust)

Not investment advice. The author may have financial interests in the mentioned instruments.

3 Mentioned

BTC

Bitcoin

ETH

Ethereum

IBIT

iShares Bitcoin Trust

Strictly Necessary Cookies

Performance Cookies

Functional Cookies

Targeting Cookies