Bitcoin's surge to new all-time high sparks $1 billion in short liquidations

Bitcoin (BTC) traded above 4% on Thursday after soaring to a new all-time high above $116,800. The rally, which appears to be leverage-driven, triggered over a $1 billion short-squeeze across the entire crypto market. source: https://www.fxstreet.com/cryptocurrencies/news/bitcoins-surge-to-new-all-time-high-sparks-1-billion-in-short-liquidations-202507110311