Bitcoin is back in beast mode.

The world’s largest cryptocurrency surged past $112,000 today, triggering the largest liquidation event since May. Short sellers — or "bears" — were wiped out, with over $470 million in losses across futures markets.

Here’s what happened 👇

🔍 What Happened

As reported by Stocktwits, Bitcoin broke above a critical resistance level at $112K, fueled by a mix of:

• Federal Reserve (FOMC) meeting hints signaling a more cautious economic outlook

• Renewed buying momentum from large holders

• Increased futures market activity, especially around Ethereum and AI-related coins

The sudden price surge forced massive liquidations in leveraged short positions across exchanges — totaling nearly half a billion dollars.

💡 Why It Matters

This event signals several key trends in the market:

• Bitcoin’s Strength: BTC remains the dominant force in crypto, drawing capital during key macro events.

• Market Volatility: Leveraged trading remains risky, with massive liquidations still common in crypto.

• Potential for New Highs: Some analysts now expect Bitcoin to test or exceed its previous peak if bullish momentum holds.

Today's market action shows how quickly tides can shift in crypto — and why risk management is crucial.

⚡ Quick Take: Solana, Stablecoins & AI Coins Join the Action

Other major stories from today:

• Bit Mining raising up to $300M for Solana treasury

• Ether and AI-related coins seeing record futures volume

• Malta’s crypto licensing process under scrutiny

• Stablecoin startup Agora secures new funding round