Bitcoin has surpassed the $110,000 mark, reaching new all-time highs this week. The cryptocurrency briefly touched $112,000, according to market data, and is currently trading above $110,000, with recent levels also reported at $109,800 and a recent low of $107,500. Market analysts attribute the surge to increased investment from both individual and institutional investors. The rise is further supported by factors such as the depreciation of the US dollar and optimism around regulatory developments, including the creation of a state-backed bitcoin reserve in Texas and a federal executive order to establish a strategic cryptocurrency reserve. Additionally, over $8.5 billion worth of Bitcoin short positions are set to be liquidated if the price reaches $115,000, while $6.15 billion and $8.98 billion in shorts could be liquidated at $120,000. These potential liquidations could add further upward pressure on the price. Bitcoin has gained approximately 15% in value this year.