Bitcoin continued its rebound, climbing to around $114,501 after liquidations wiped out more than $319 million in short positions, data from CoinGlass showed.
The move began with a surge above $112,000, where trading volume spiked over 318%, pushing BTC toward a midday high before consolidating between $113,550–$113,720. The day’s biggest liquidation was a $19.04 million BTC-USD order on Hyperliquid.
Short sellers bore the brunt, amplifying upward momentum as traders parsed U.S.–China trade developments. The Chinese Embassy posted that officials held “candid and constructive” talks with U.S. representatives on tariffs, agriculture, and export controls — fueling optimism in risk markets.
With $393.7 million in total liquidations and sentiment improving ahead of the FOMC meeting, analysts see signs that BTC’s technical setup could support further upside if macro headlines remain favorable.
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