Bitcoin Soars Past $108,200 as Investors Turn Risk-On
The cryptocurrency market has seen a surge in recent days, with Bitcoin (BTC) reaching a high of over $108,200 after experiencing a significant rebound from last week's lows. This rally comes as investors have turned risk-on, despite concerns about government bond yields and debt piles.
According to Coinglass, liquidations of long and short positions across digital assets have climbed to $1 billion over the past 24 hours, with around $878 million in short positions being liquidated. This is a significant increase from the previous high of late August when Bitcoin saw a record wave of bearish bets wiped out.
Chris Beauchamp, chief market analyst at IG, noted that 'financial markets have rediscovered a risk-on frame of mind' after concerns about government bond yields and debt piles began to subside. The green light given by the Securities and Exchange Commission for digital versions of securities to start trading in the US has also helped to brighten the mood.
Bitcoin's gains build upon a recovery that began late last week, when crypto absorbed the failure of the landmark Clarity Act and the Federal Reserve's first interest rate increase in more than three years. The cryptocurrency is now back at levels seen in late January but remains roughly a third below its record high in October 2025.