The Australian: Institutional firepower, short squeeze behind Bitcoin record.
Bitcoin has hit a new all-time high of US$112K.

On the $BTC Markets exchange, Bitcoin volumes rose 38%. Ethereum up 41%. $XRP led with 52%. US$223M in short liquidations forced a move.

“Bitcoin continues to benefit from its scarcity and increasing acceptance as a strategic portfolio allocation,” said Rachael Lucas, crypto analyst at $BTC Markets.

“This rally is characterised by disciplined capital flows, ETF inflows, and balance sheet adoption, a sign of maturing market infrastructure and investor conviction.”

Bitcoin’s market cap now exceeds US$2.2T, larger than Australia’s GDP.

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