<p><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NmY3NjctOGJiMi03Y2M2LWE1YzMtYWQ5M2FhZWMxOTll.jpg" alt="Bitcoin soars to new all-time high above $112K as traders liquidate shorts"></p><p>Bitcoin price roared to a new all-time high above $112,000. Cointelegraph explains why.</p>