Bitcoin surpasses $110,000, and over 90,000 people in the cryptocurrency market are liquidated

On Thursday, July 3, Bitcoin (BitfinexUSD) rose nearly 2%, once surpassing the $110,000 mark.

According to Coinglass data, in the last 24 hours, over 94,000 people in the cryptocurrency market have been liquidated, with a liquidation amount of $329 million.

According to Coinglass data, if Bitcoin breaks through $111,000, the cumulative short order liquidation intensity of mainstream CEX will reach 1.258 billion. Conversely, if Bitcoin falls to $106,692, the cumulative long order liquidation intensity of mainstream CEX will reach 2.716 billion.

Geoff Kendrick of Standard Chartered Bank wrote in a report on Wednesday that Bitcoin may usher in the "best ever" second half of the year due to strong interest from institutional investors and Treasury bond purchases, and is expected to break through the historical high of $111,814 set in May.