As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous bull runs and bear markets alike. However, the current surge in the cryptocurrency industry, particularly Bitcoin’s record-breaking performance, is nothing short of breathtaking.
Tracking the fluctuating prices in the crypto market can be quite challenging these days. In fact, just moments ago, Bitcoin set multiple new record highs, with its latest peak reaching almost $85,000.
Additionally, the alternative cryptocurrencies are seeing activity as well. These price swings have caused significant distress among traders who have borrowed too much capital, resulting in over $650 million in liquidations every day.
While Bitcoin has surged by almost $20,000 over the past week, let’s delve deeper into recent events of the last 24 hours, as earlier developments have been thoroughly discussed already.
Yesterday, I witnessed a significant milestone in my crypto journey as the primary cryptocurrency surpassed its previous all-time high of $81,000. However, after a brief dip to around $79,000, it regrouped and mounted another charge earlier today, touching $82,000 – a feat I had been eagerly anticipating. As reported earlier, this upward momentum is certainly exciting!
To start with, Monday saw a significant upward trend for Bitcoin, which just moments ago surged close to an unprecedented $85,000. This recent spike followed the bulls accelerating their momentum once more and was also accompanied by MicroStrategy’s announcement about their latest multibillion-dollar bitcoin acquisition worth over $2 billion.
However, it’s important to note that Dogecoin isn’t just the biggest cryptocurrency. Recently, it’s been leading the charge in this rally fueled by Trump’s influence. In the last 24 hours alone, its value has increased by another 25%. This marks a significant milestone for Dogecoin as it surpasses $0.3 for the first time in about three years.
Today, the digital currency Shiba Inu climbed back into the top 10 largest cryptocurrencies by market capitalization on CoinMarketCap, and it surged by an impressive 9% just within the last hour, reaching a value of more than 0.000028 dollars.
The information from CoinGlass indicates that the combined worth of closed positions currently stands at a staggering $670 million. Notably, Bitcoin contributes significantly to this figure, accounting for approximately $165 million, while Dogecoin comes in fourth place.
Around 220,000 traders have faced significant losses during this period. The biggest selloff, valued over $15 million, took place on the OKX platform.
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2024-11-11 19:18