Bitcoin sets another record above $113,000 as investors jump into risk assets, liquidate shorts
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Bitcoin broke through its previous day's record as investors continued piling into risk assets and liquidated short positions.
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3 min read
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cryptocurrency
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July 10, 2025
08:02 PM
CNBC
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CM= your favorite stocksCREATE FREE ACCOUNTNurphoto | Getty ImagesBitcoin climbed to new all-time high on Thursday, building on its previous record reached just a day earlier, as investors jumped into risk assets and liquidated short positions
The price of the flagship cryptocurrency was last higher by 2% at $113,459
Earlier, it rose as high as $113,863
On Thursday afternoon, bitcoin saw $318 million in short liquidations across centralized exchanges in a 24 hour period, according to CoinGlass
When traders use leverage to short bitcoin and the cryptocurrency's price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated
Stock Chart IconStock chart iconBitcoin this weekAltcoins, or cryptocurrencies other than bitcoin, joined the rally for a second day after many investors had started to lose hope that they would show signs of life this year
Ether and the Solana token gained than 2% each
Dogecoin and the token tied to Cardano advanced more than 5% each
XRP and litecoin rose 3%
Crypto stocks gained as well
Bitcoin mining stocks Mara Holdings and Riot Platforms rose more than 2% each, while crypto trading platforms Coinbase and Robinhood each advanced 4%
Bitcoin has traded in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds, which has helped the price stay above the $100,000 level for more than 60 consecutive days
Public companies have also been on a bitcoin buying spree and outpaced bitcoin ETF inflows in the second quarter
Bitcoin's climb this week began on Wednesday, when investors returned to risk-on mode, driving the -heavy Nasdaq Composite to a record close and giving a boost to cryptocurrencies
Between big purchases from institutions and optimism on the regulatory front with Congress making gress on stablecoin legislation, investors were expecting bitcoin to push to new heights in the second half of the year
Don't miss these cryptocurrency insights from CNBC : These stocks are the best way to play the crypto space in the second half, Wolfe saysInvestors expect bitcoin to break out to new records in the second half from a consolidation phaseWhy bitcoin isn't rallying even with billions of dollars in ETF inflowsThis stock tied to crypto has been on fire since its IPO
Some analysts see even more gains aheadwatch nowwatch now09:32Bitcoin sets another new record for a second straight day: CNBC Crypto WorldTalia Kaplan2 hours agowatch nowwatch now12:42WonderFi founder outlines some of the factors helping bitcoin reach new recordsTalia Kaplan25 min agowatch nowwatch now13:07XRP rises after Ripple selects BNY Mellon as custodian of firm's new stablecoin: CNBC Crypto WorldLindsey JacobsonRead More.
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