Bitcoin is on the Attack – We’re Above $ 98,000 Again – Here’s Why and Latest Data

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Bitcoinsistemi2024/12/04 22:22

By:Mete Demiralp

The world's largest cryptocurrency, Bitcoin, continues a truly impressive upward rally, according to the latest data.

Following today's important developments, there was a serious revival in the Bitcoin price and the world's largest cryptocurrency managed to rise above $ 98,000 again.

The reason for the rise is thought to be Donald Trump's nomination of cryptocurrency-friendly Paul Atkins as SEC Chairman in the evening hours. In addition, FED Chairman Jerome Powell's continued dovishness in his speech also fueled the rise. In addition, the large amount of inflows into BlackRock's Bitcoin Spot ETFs also played a role in the rise.

With the latest rise, the total appreciation rate in Bitcoin prices in the last 24 hours has exceeded 3%. Altcoins are experiencing higher increases.

Bitcoin is on the Attack – We’re Above $ 98,000 Again – Here’s Why and Latest Data image 0

On the other hand, along with the rise, large liquidation waves were also observed in the cryptocurrency market in general. The cryptocurrency market experienced $440 million in liquidation in the last 24 hours, and the majority of $224 million of these were in long positions.

The cryptocurrencies that were liquidated the most were Bitcoin, Ethereum, XRP and Solana, 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.

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