The price of Bitcoin just shot above the $116,000 for the first time ever, continuing a recent string of all-time high jumps over the last two days—and non-believers are getting pummeled with short liquidations.

Bitcoin is currently sitting at a price of $116,734 according to data from Coinbase, marking a 4.8% climb over the last 24 hours after weeks of being rangebound below the previous record price just under $112,000.

According to data from CoinGlass, Bitcoin shorts are getting slammed. More than $560 million worth of crypto positions have been liquidated in the last hour alone, with most of them shorts. Bitcoin shorts accounted for over $425 million worth of those liquidations, with shorts making up all but about $5 million worth of that tally.



Over the past 24 hours, crypto liquidations total $912 million, driven in part by earlier all-time high pops for Bitcoin. That total includes $542 million worth of Bitcoin shorts.

Earlier in the day, Joe DiPasquale, CEO of crypto fund manager BitBull Capital, told Decrypt that there were likely more gains ahead.

"We are likely headed even higher," he said earlier Thursday. "Bitcoin's rally is being driven by a mix of strong ETF inflows, renewed institutional demand, and a broad risk-on environment as investors anticipate Fed rate cuts."

Some other major cryptocurrencies are up higher on the day, with Ethereum rising almost 8% to $2,970, Dogecoin popping 6% to $0.192, and XRP climbing 5.5% to $2.55.

Editor's note: This story was updated after publication with additional details.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。