Bitcoin hits $111,800 on strong Treasury yields, sparking bullish momentum and rising trading volumes - IcoHolder.

Bitcoin surged past $111,800 on Thursday, setting a new all-time high fueled by rising Treasury yields following a weak 20-year U.S. bond auction. After briefly dipping to $106,000 earlier in the week, the world’s leading cryptocurrency rebounded strongly, surpassing its previous peak of $109,200 on Wednesday and approaching $112,000. This sharp rally has reignited bullish momentum across the crypto market.

Michael Saylor, executive chairman of Strategy, reaffirmed his optimistic stance, declaring on X that “No one has ever lost money buying Bitcoin.” Supporting this, crypto influencer Altcoin Daily pointed out that all Bitcoin holders are currently in profit. On-chain data from IntoTheBlock confirms that every one of the 19.89 million BTC tracked is “in the money,” with total profitable holdings valued at $2.21 trillion.

The derivatives market has also reacted strongly to the rally, with trading volumes jumping 84% to $221 billion and open interest rising 17%, indicating increased leveraged positions. Funding rates remain positive, suggesting long traders are paying premiums to maintain their bets. Meanwhile, short sellers faced significant losses, with $179 million in short positions liquidated over the past 24 hours compared to $51.61 million liquidated longs. Options trading volume surged 85% as traders brace for further volatility.

Looking ahead, analysts eye key resistance levels. Joe DiPasquale, CEO of BitBull Capital, targets $120,000 as the next milestone, while veteran analyst Peter Brandt envisions Bitcoin reaching between $125,000 and $150,000 within three months. As Bitcoin’s price continues its ascent, investors face the challenge of whether to hold steady or react to market swings. The coming weeks will reveal if this bullish trend can sustain itself amid ongoing volatility.