Historic Rise Continues: Bitcoin Breaks $85,500 Level – Here is the Latest Situation and What to Watch in Altcoins!
Bitcoin, the world's largest cryptocurrency, has set a new record at $85,500 at the time of writing.
The world’s largest cryptocurrency, Bitcoin, has finally surpassed one of the biggest psychological barriers of $85,000 and is trading at $85,124 at the time of writing.
With the rise in BTC, the all-time high price level has also been updated to 85,500.
Image showing the current state of the chart with 15-minute candles after the recent rally in BTC price.
It is thought that the reason for this huge increase in the BTC price is the election of cryptocurrency-supporting Donald Trump as the President of the United States, the widespread belief that Elon Musk will also have a say in this administration, and also the predictions that the FED will proceed on the path of monetary easing in the coming period.
On the other hand, due to the rise, there were also large-scale liquidations in the cryptocurrency market. In the last 24 hours, the entire cryptocurrency market faced a total liquidation of $661 million, and despite the rise, interestingly, $361 million of these were in long positions.
The assets that experienced the largest liquidation were recorded as Bitcoin, Ethereum and Dogecoin, respectively.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin dips below $100,000, memecoins plummet as market responds to US tariffs
The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.
Ethereum Price Dips, Yet Increased Buying Activity Indicates Promising Future
Despite Bearish Trends, Increased Buying Activity Hints at Potential Breakout for Leading Altcoin, Ethereum
Overview: SOL vs ETH – Deciphering Key Aspects of the Solana-Ethereum Ratio
Untangling the SOL/ETH Dynamics: An In-Depth Look at Solana's Potential for Recovery Following Its Recent 25% Decline
Two Whales Messed Up on Two Different Altcoins – Forced to Sell at a Huge Loss on the Last Drop
According to Onchain data, two different crypto whales sold their positions after losing on two altcoins. Here are the details.
Trending news
MoreCrypto prices
More
