BREAKING: What’s Happening? Bitcoin Suddenly Rises Above $116,000 – $555 Million Liquidated in Minutes! Here’s What We Know

According to breaking news, the Bitcoin price experienced a sudden surge in just two minutes, gaining 2.3% and rising above $116,000.

With this development, the new all-time high price record for BTC was $116,868.

Chart showing the rise in BTC price.

Bitcoin, which broke its all-time high just a few hours ago today, hasn't seen such a sudden jump in a long time. All eyes are now on whether the BTC price can break through the psychological $120,000 barrier.

The reason for the rise is attributed to the lack of attention paid to Donald Trump's tariff threats and the expectation that the Fed will begin interest rate cuts in September. The momentum behind the BTC price's record-breaking price is also contributing to the rise.

With the recent surge, the cryptocurrency market saw $555 million in liquidations in the last hour. $540 million of this was in short positions.