Bitcoin prices suddenly surged, breaking through $111,000 and approaching the all-time high of $111,970. This increase was mainly driven by progress in economic negotiations between China and the United States and positive statements from U.S. President Trump. Bitcoin's rapid rise triggered a large-scale liquidation wave in the cryptocurrency market, with a total market liquidation amount reaching $168 million in the past hour, of which $165 million were short position liquidations. By cryptocurrency, Bitcoin had the highest liquidation amount at $110 million, followed by Ethereum with $30 million in liquidations. This information is provided by SoSoValue for reference only and does not constitute investment advice.