Bitcoin Surges Above $115,000! Massive Short Liquidations and Investor Optimism Drive the Market Up

Bitcoin (BTC) surpassed the $115,000 mark over the weekend, reaching its highest level in two weeks and reigniting excitement across the crypto market. The sharp rally also triggered massive short liquidations worth $347 million, sparking a classic short squeeze — and fueling a new wave of bullish momentum.

Bitcoin accelerates as optimism spreads across markets Over the past 24 hours, Bitcoin gained 3%, while Ethereum (ETH) jumped 6% to $4,187. XRP and BNB both climbed by 2%, and Solana (SOL) surged 5.7%. According to Rachael Lucas, analyst at BTC Markets, these movements are not short-lived fluctuations: “These price moves are not temporary spikes but part of a sustainable trend driven by on-chain supply tightening, technical indicators, and macroeconomic support.”

Macro tailwinds: U.S. and China approach trade framework deal One major driver of this rally is growing optimism around the upcoming U.S.–China meeting in South Korea, where both nations are expected to reach a trade framework agreement. “Markets are reacting positively to the potential improvement in U.S.–China relations, which is supporting risk assets — especially cryptocurrencies,” Lucas added. The rally also coincides with investor expectations that the Federal Reserve will cut interest rates by 25 basis points at this week’s meeting. According to the CME FedWatch tool, there’s now a 96.7% probability of a rate cut — a catalyst that continues to boost risk appetite across the crypto market.

Short squeeze burns bears with $347 million in liquidations During the weekend rally, over $347.5 million worth of short positions were liquidated.

“This is a textbook short squeeze; bearish investors were forced to close positions, accelerating the price rally,” explained Vincent Liu, CIO of Kronos Research.

Target: $130,000 to $150,000 by year-end? Analysts believe that if the macroeconomic backdrop remains supportive and the Fed proceeds with rate cuts, Bitcoin could climb to $130,000–$150,000 by the end of the year.

Many also anticipate the traditional “Christmas rally”, which often brings a surge of institutional inflows and renewed retail enthusiasm.

Fun fact: The current momentum resembles the 2020–2021 market phase, when Bitcoin nearly doubled its value within a few months.

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