BTC Surges 3.09% Amid $140M Liquidations, Whale Activity, and High Institutional Trading Volumes

Bitcoin (BTCUSDT) has shown a notable 3.09% price increase in the last 24 hours, with Binance reporting a current price of $88,070.32 and a 24-hour opening price of $85,427.72. This price movement is primarily attributed to increased market volatility and leverage, evidenced by $140 million in BTC positions being liquidated over the past week and a whale holding a substantial short position on Hyperliquid. Key macroeconomic events, such as Bank of Japan rate policy discussions and the release of U.S. November CPI data, have influenced liquidity conditions and contributed to rapid price swings. Institutional activity, including large BTC acquisitions and ongoing high trading volumes—Binance recorded 21,272.67 BTC traded in the past 24 hours—also supported the recovery above key moving averages. Bitcoin’s market capitalization remains strong at approximately $1.76 trillion, with the asset maintaining top market dominance and circulating supply near 20 million BTC, while near-term resistance is observed around $92,500 and support near $91,500.