Bitcoin recently surged to an all-time high of over $81,000, triggering $180 million in liquidations for short-sellers. This rally boosted Bitcoin's market dominance to over 59%, its strongest in years, and led to increased interest in Bitcoin-backed ETFs. However, the excitement was short-lived as a market selloff ensued, with over $90 million in crypto positions liquidated within hours.

Concerns over a potential market crash are rising, exacerbated by Mt. Gox moving over 30,000 BTC. Despite this, some analysts remain optimistic, projecting Bitcoin could reach $90,000 by year-end. Global economic factors, such as China's debt package and U.S. inflation data, are expected to add further volatility.