The Bitcoin (BTC) price is experiencing a new rally and with the momentum it has gained, it has climbed to a new all-time high price level of $93,708.
Bitcoin price has been consolidating for a few days after the recent records. However, the increase in the last week has been around 5%.
The reason for the rise is shown as the election of cryptocurrency-friendly Donald Trump as US President and the possibility of creating a strategic Bitcoin reserve. In addition, the FED’s interest rate cut process also contributes to the rise of BTC.
However, along with the rise in the cryptocurrency market, there was also a large amount of liquidation. In the last 24 hours, there was a liquidation of $288 million in the cryptocurrency market, $174 million of which was in long positions. In the previous record rally, the amount of liquidation exceeded $600 million.
*This is not investment advice.
