Bitcoin

Million

The most popular cryptocurrency, Bitcoin, is again rising as reached $71,000, its highest price in the last two weeks, and is almost at its greatest level since the quadrennial halving event in April. 
As per CoinMarketCap, Bitcoin the current price is around $70,900, having increased around 3% in the past 24 hours. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcZjWDpNmdl8-4DATgkTTdP6wUZlDnB-CQLfqMKMffJ0f2FD1LBOa7b3NyXl_0mShb91SmrjVXw-HkxS0HczayHpfshhXn36OZMyY899Petc5yeZZWTEKBfMnPcq2jYlPRXXEf8RxH5Pz8K3Zkbe6bNX6gK?key=Z6IxD3WPim53n0lhb_3kqw" alt="Bitcoin Price">
 <figcaption class="wp-element-caption">
 Bitcoin Price, Source: CoinMarketCap
 </figcaption>
 </figure>
</div> 
The price increase in the last 24 hours caused $27 million in bitcoin positions to be liquidated. During the same time frame, roughly $87 million worth of liquidations struck the broader Bitcoin market. 
According to Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noreferrer noopener">data</a>, of these aggregate cryptocurrency liquidations, the bulk (about $50 million) involved short holdings. 
The QCP money research on Tuesday states that the world’s first-ever access to traditional money will surely sustain the price of Bitcoin, which touched $71,000 during the New York session. 
Nonetheless, the Glassnode market analysis from Tuesday indicates that long-term Bitcoin holders—those who hold coins for three months to three years—are putting more pressure on the sell side. 
“We can expect that this cohort’s incentive to sell more supply will grow should prices climb high, and elevate their unrealized profit further,” the research stated.&nbsp; 
According to Glassnode, just 0.03% of the cohort of long-term holders are in a loss as a result of the price of bitcoin rising above $68,000 in the last 24 hours. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/10/jack-dorsey-forecasts-bitcoin-price-at-1-million-by-2030/" target="_blank" rel="noreferrer noopener">Jack Dorsey Forecasts Bitcoin Price at $1 Million by 2030</a> 
</blockquote>

Bitcoin’s Price Touches $71,000, Shorts Liquidated

The Crypto Times

Other articles published on Jun 4, 2024

Why Bitcoin Is Stuck In A Range And What Could Change That: 10x Research

Hackers Target Renzo Protocol’s Official Account

MoonBag Raised $1M in Presale Stage 4, Challenging Dogwifhat and BitBot for Best Crypto Presale i...

BNB Up More Than 6% In 24 hours

Only 9% of Algorand (ALGO) Investors Are in Profit Amid Strong Holder Conviction

Moonbag Presale Is Investors' Top Choice While Cosmos Network Decline And Arbitrum Setbacks

Join our free newsletter for daily crypto updates!