Ethereum

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Bitcoin

Bitcoin (BTC), the original crypto, is leading the crypto market rally by printing green indexes all over. It seems like bulls have decided to step on the paddle to post new highs in 2024. However, in pursuit to smash its all time high (ATH) of $69,000, <a href="https://news.todayq.com/bitcoin-bulls-fueled-by-etfs-inflow-locks-aim-at-new-ath/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin surge</a> had left a huge number of short traders unhappy. Bitcoin aiming for new ATH 
In the fresh upward rally, Bitcoin price jumped by another 3% in the last 24 hours. However, BTC recorded a surge of more than 20% over the last 7 days. BTC is trading at an average price of $51,620, at the press time.
It is important to note that this ongoing surge has moved Bitcoin’s market cap to regain the $1 trillion mark. This massive milestone was achieved by the crypto back in December 2021, however, since then Bitcoin has seen many ups and downs in the market. The global market cap jumped by more than 2% over the past day to stand at $1.92 trillion.
With a $1 trillion market cap, Bitcoin has now surpassed several major companies like Berkshire Hathaway, Walmart, and <a href="https://news.todayq.com/elon-musks-tesla-reveals-its-bitcoin-holdings-hodl-or-not/" target="_blank" rel="noopener noreferrer nofollow">Tesla</a>. Bitcoin’s ongoing rally had come in despite a higher than expected US inflation print on Tuesday.&nbsp; Shorters bleed 
Data provided by Coinglass depicts that over 58K traders got liquidated in the last 24 hours. A total of $222.28 million long and short positions were liquidated at the same time. However, the largest single liquidation order was valued at $10.20 million. It occurred on the crypto exchange OKX for the BTC/USDT-SWAP pair.
As we dig in, data shows that $136 million worth of positions liquidated in the last 24 hours turned out to be short bets. While $90 million worth of short bets got liquidated in the last 4 hours. This suggests that traders were expecting the overall crypto market to take a dump after recording a massive surge.
Google Search Trends indicates that the popularity of the term Bitcoin is currently standing at 18. It is well below its peak popularity. However, this also suggests that mainstream interest in Bitcoin is still growing and will potentially contribute to its sustained upward trajectory.
Major altcoins like Ethereum and Cardano prices surged by more than 2% and 4%, respectively. ETH is trading over the $2,700 price mark depicting a confidence in the Bitcoin rally.
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Crypto shorters exhaust, Bulls take control as Bitcoin jumps 20% in 7 days

Todayq News

Ďalšie články zverejnené 14. 2. 2024

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