Analyst: Bitcoin breaks through $110,000 and is at a critical position waiting for macro signals

Mars Finance News: Bitcoin rose by over 3% in a single day, breaking through $110,000, just about 2% away from the historical high set in May. Ethereum simultaneously rose by 3.8%, reaching $2,620. Hyperliquid's HYPE and SUI rose by 7% and 4.5% respectively, standing out among mainstream crypto assets. Bitfinex analysts stated that after Bitcoin's 10% pullback last week and nearly $1.9 billion in derivative liquidations, market leverage has been effectively cleared, currently at a crossroads between "structural support and diminishing momentum", awaiting the next macroeconomic catalyst. CoinGlass data shows that Bitcoin's rise on Monday led to over $110 million in short liquidations, with the crypto market clearing over $330 million in short positions that day, a one-month high. Cubic Analytics founder Caleb Franzen described the current market as a "peaceful rise", characterized by continuously higher highs and higher lows, quickly gaining buying support during each pullback. Wintermute OTC trader Jake O noted that the market is focusing on the upcoming US-China trade representative meeting and the US CPI data to be released on Wednesday, which could be key trigger points for Bitcoin's next move. (CoinDesk)