Bitcoin (BTC) Surges Past $71000; Sets New All-Time High

Bitcoin BTC up

Bitcoin has reached an impressive milestone by hitting a new all-time high of $71,000 on Bitstamp. This marks a significant moment in the cryptocurrency’s journey.

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Bitcoin has broken its previous records by surging to a new all-time high of $71,092 on the Bitstamp exchange. This achievement marks a significant milestone for the cryptocurrency.



Bitcoin’s Record-Breaking Surge Amid Growing Mainstream Acceptance

Amidst increasing mainstream acceptance and substantial investment from retail and institutional investors, the cryptocurrency market has witnessed a significant milestone with Bitcoin hitting a new all-time high of $71,092 on the Bitstamp exchange. This achievement reflects the growing confidence in cryptocurrencies.

Ethereum Surpasses $4,000 as Bitcoin Continues to Rise

Before reaching this new peak, Bitcoin had already marked its highest weekly candle close ever at $69,062 on Bitstamp. Meanwhile, Ethereum, the second-largest cryptocurrency, has seen its price surge beyond the $4,000 level, signaling a broader bullish trend across the crypto market.

Significant Market Liquidations Amidst Price Volatility

The recent price volatility in the cryptocurrency market has resulted in substantial market liquidations, with CoinGlass data showing a total of $336.22 million liquidated in the past 24 hours alone.

Long positions bore the brunt of these liquidations, totaling $224.73 million, while short positions accounted for $111.49 million.

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In the last hour, market liquidations amounted to $39.68 million, highlighting the high volatility in the cryptocurrency market. Most of these liquidations were from short positions, totaling $37.65 million, suggesting that a sudden price increase likely triggered these events. Long position liquidations were notably lower at $2.03 million.

Over the past four hours, OKX led in liquidations, totaling $19.95 million. Among these, short positions comprised a significant $16.96 million, accounting for 85.03% of its total liquidations. Bitmex followed with $8.71 million in liquidations, all from short positions, while Binance saw liquidations totaling $6.74 million, with both long and short positions affected.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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