Bitcoin Surges Past All‑Time High of $112K

Bitcoin surged to a fresh all-time high above $112,000 on Coinbase, briefly peaking at around $112,055 at 3:55 p.m. ET on Wednesday, before settling slightly lower.

This rally follows a consolidation phase in the $106K–$110K range, triggered by the unwinding of over $280 million worth of short positions within a single hour, according to CoinGlass data.

Strahinja Savic, head of analytics at FRNT Financial, commented that “the stars have aligned for Bitcoin”, as it increasingly attracts investors seeking protection from fiat currency uncertainties.

Year-to-date, Bitcoin has climbed roughly 20%, and in the last 24 hours alone, it gained over 2%. The surge also extended to major altcoins: Ethereum rallied about 5–6%, while XRP and Solana each jumped around 3%.

Several factors are fueling this rally:

• Institutional inflows have surged, particularly into spot Bitcoin ETFs, with inflows exceeding $13 billion in recent months, driven by funds like BlackRock’s IBIT and Fidelity’s FBTC.

• Corporate and treasury-level accumulation has increased, indicating strong long-term confidence.

• Liquidity has been boosted by short squeezes, as hedge funds and traders exit bearish bets.

• Ongoing macroeconomic concerns—such as inflation, global geopolitical tensions, and fiscal instability—continue to support Bitcoin’s position as a digital safe haven.

What’s Next?

Analysts are watching for continued altcoin follow‑through, as momentum in Bitcoin often lifts the broader crypto market. Additionally, on‑chain data—like the recent 13,000‑BTC increase in long‑term holder supply since June—suggests this rally has strong structural backing.