Bitcoin is Going Up – We’re Above $101,000! Here’s Why and Latest Data

Bitcoin, the world's largest cryptocurrency, has made a serious attack at the moment this article is being written, first regaining the $100,000 it had retreated from a while ago, and then immediately managed to exceed $101,000.

The current all-time high price record for Bitcoin is at $104,088, according to Binance data.

The rise is thought to have come as a result of the US CPI data coming in line with expectations and the increasing expectations that the FED will cut interest rates immediately afterwards.

Recently, the Bitcoin price experienced a sudden drop, and a total of more than $1.4 billion was liquidated across the cryptocurrency market.

Donald Trump will begin his term as US President on January 20, and all markets, especially the cryptocurrency market, will be closely monitoring developments. It is being watched with curiosity whether the new president will create a Strategic Bitcoin Reserve as he promised.

With the increase in the latest updated data, we see that there has been a liquidation of $365 million in the cryptocurrency market in the last 24 hours, and their long/short ratio is approximately at the level of 1.

*This is not investment advice.