Analyst: Bitcoin breaks through $110,000 and is at a critical position waiting for macro signals

Odaily Planet Daily News Bitcoin rose more than 3% in a single day, breaking through $110,000, only about 2% away from the historical high set in May. Ethereum rose 3.8% at the same time, standing above $2,620. Hyperliquid's HYPE and SUI rose 7% and 4.5% respectively, performing outstandingly among mainstream crypto assets. Bitfinex analysts said that after Bitcoin experienced a 10% correction last week and nearly $1.9 billion in derivatives liquidation, market leverage has been effectively cleared, and it is currently at a crossroads between "structural support and weakening momentum", waiting for the next macroeconomic catalyst. CoinGlass data showed that the rise of Bitcoin on Monday led to a short position of more than $110 million. On that day, the crypto market liquidated a total of more than $330 million in short positions, setting a new high in nearly a month. Caleb Franzen, founder of Cubic Analytics, called the current market a "peaceful rise", that is, higher highs and higher lows continue to appear, and buying support is quickly obtained in each pullback. Wintermute OTC trader Jake O said the market is focusing on this week's meeting between US and Chinese trade representatives and the US CPI data released on Wednesday, which may become the key trigger for Bitcoin's next move. (CoinDesk)