Cryptocurrency Bitcoin Hits Record High of Over $113K, Triggering $600 Million in Margin Calls
In a significant development, Bitcoin has broken through the $113,000 barrier in the past few hours, marking a new all-time high. This surge comes amidst a growing demand for Bitcoin among US investors.
While the recent price increase may have been influenced by various factors, it's important to note that there is no evidence from current reports that a historic interest rate reduction, as called for by former President Donald Trump, triggered this breakthrough.
Trump has been vocal in his criticism of Federal Reserve Chair Jerome Powell, particularly for not cutting interest rates more aggressively. However, the Fed's rate-setting committee has maintained steady rates so far this year, with only minor rate cuts last year, and has shown reluctance to implement drastic reductions due to inflation concerns.
The criticisms focus more on Powell’s management, including an "ostentatious" office renovation project at the Fed, rather than an actual policy move such as a historic interest rate cut.
Meanwhile, the Bitcoin market has been consolidating for weeks, with a lower boundary at $105,000 and an upper one at $110,000. This consolidation phase saw short positions responsible for the majority of the liquidations, including one where a mysterious whale lost over $51 million.
Other cryptocurrencies are also showing signs of recovery. Ethereum (ETH) has climbed above $2,800 in the past 24 hours, while Dogecoin (DOGE) has produced notable gains, increasing by over 5.5% during the same period.
In the past hour, liquidations have topped $80 million, and the overall liquidations within the past 24 hours have reached a multi-week high of $600 million.
For new account holders, both Binance and Bybit are offering exclusive welcome offers. Binance is offering a $600 bonus, while Bybit is offering a $500 free position on any coin.
As always, it's crucial for investors to conduct thorough research and make informed decisions when investing in the volatile world of cryptocurrency.
[1] Federal Reserve's Rate-Setting Committee Resists Large Cuts, Focuses on Inflation Control, CNBC, July 2025. [2] Trump's Criticism of Jerome Powell: A Political and Managerial Conflict, The Wall Street Journal, July 2025.
- The Bitcoin surge, reaching a new high at $113,000, seems unrelated to former President Donald Trump's calls for historic interest rate reductions, given the Fed's recent stance on rates.
- While other cryptocurrencies like Ethereum and Dogecoin are showing signs of recovery, it's evident that the Bitcoin market has been consolidating, with a lower boundary at $105,000 and an upper one at $110,000.
- As the cryptocurrency market continues to fluctuate, new account holders can consider taking advantage of exclusive welcome offers from platforms like Binance and Bybit, offering a $600 bonus and a $500 free position on any coin, respectively. However, it's crucial for investors to conduct thorough research and make informed decisions when investing in the volatile world of cryptocurrency.
