Bitcoin Hits New All-Time High! Bulls Suffer Massive Losses as Price Surges and Plummets, Wiping Out Nearly $1.2 Billion.
Bitcoin broke through the previous historical high of $69,000 last night after a lengthy period of 846 days. Ethereum also surged to $3,827, but the peak was short-lived, resulting in a large number of long positions being liquidated. In terms of the overall cryptocurrency market, a total of $1.18 billion worth of positions were liquidated within 24 hours.
Bitcoin broke the new high after 846 days last night. However, the peak was short-lived, and Bitcoin quickly fell to $59,005 within five hours, resulting in a large number of long positions being liquidated. As of the deadline, the price was around $63,000.
The trend of Ethereum is also very similar. Although it is still nearly 30% away from the historical high of $4,867 on November 10, 2021, Ethereum also surged to $3,827 last night, but quickly fell to around $3,200, leaving a long lower shadow. As of the deadline, the price was $3,550.
According to CoinGlass data, the significant volatility resulted in over $323 million worth of Bitcoin positions being liquidated, with the majority ($243 million) being long positions. Ethereum also had $205 million worth of positions liquidated.
In terms of the overall cryptocurrency market, a total of $1.18 billion worth of positions were liquidated within 24 hours, with long positions accounting for $890 million and short positions accounting for $287 million.
Yesterday, the top 10 cryptocurrencies all showed a downward trend, but they still had an overall upward trend over the past week, especially Dogecoin (DOGE) and Shiba Inu Coin (SHIB), which had astonishing gains of 54.2% and 213.3% respectively.
The market sentiment index has reached above 90, indicating high price volatility. Please pay attention to your own risk management.
(Is the meme season the beginning of Fomo? QCP Capital report: Asian retail speculators driving this round of rise)
BTC
DOGE
ETH
SHIB
Further reading:
Bitcoin price breaks 64k, Ethereum surpasses 3500, top 10 cryptocurrencies in a big wind.
Markus Thielen: The exclusive Bitcoin bull market is only halfway, with a target of 125K.
