Bitcoin Rises to $115,000 as Traders Grow More Confident After Economic Worries Ease
Bitcoin Hits $115,000 as Crypto Market Gains Momentum
On October 26, Bitcoin climbed above $115,000, its highest level in two weeks, as traders reacted to easing economic concerns and a wave of short-position liquidations. Over the past 24 hours, Bitcoin rose 3% to $115,179, while Ethereum gained 6% to $4,187.
Other major cryptocurrencies, like XRP, BNB, and Solana, also saw price increases. Data from Coinglass showed that about $347.5 million in short positions were liquidated in the past day, with $195 million of that happening in the last four hours alone.
Analysts say the boost comes from growing optimism about a possible US-China trade deal and expectations that the US Federal Reserve may cut interest rates this week.
Historically, the cryptocurrency market often rises at the end of the year in a trend called the “Santa Rally,” which some analysts believe could happen again in 2025.
Bitcoin’s all-time high remains $126,080.
