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Bitcoin (BTC), the world’s leading cryptocurrency, has achieved its highest weekly close ever, reaching $106,516. Despite retreating slightly, BTC is still trading strong at $102,924 as of the latest update. This significant milestone has fueled speculation that the digital asset could break new all-time highs in the coming days.
The surge in Bitcoin's price comes amid a flurry of activity in the broader crypto market. According to CoinGlass, over $645 million in crypto positions were liquidated within the past 24 hours, indicating intense volatility. Much of this was driven by leveraged trades being wiped out as Bitcoin fluctuated around the $100,000 mark.
On-chain analytics platform Lookonchain reported that a major trader, known for earning $15 million on decentralized exchange Hyperliquid, has taken a short position on Bitcoin and several other assets. This suggests that some traders expect a short-term pullback following the recent rally.
Meanwhile, market sentiment remains mixed. While Bitcoin bulls are optimistic about a sustained breakout, others are cautious, especially given the broader macroeconomic landscape and potential technical corrections. Still, BTC’s strong weekly close signals solid momentum as it consolidates above six figures.
Altcoins have shown mixed performance. XRP is facing a critical juncture, with analysts debating whether it’s on the verge of a crash or a major rally. Ethereum (ETH) is also drawing attention as it steadily climbs toward the $3,000 level.
With BTC’s bullish trend intact and high market activity continuing, all eyes are on whether Bitcoin can sustain its momentum and break into uncharted territory this week.
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