Bitcoin is currently experiencing significant price movements, aiming for new all-time highs as institutional interest surges. With over $500 million in liquidations, traders are closely watching the market dynamics.
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Bitcoin is testing new price levels as volatility returns, driven by Wall Street traders.
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Crypto liquidations exceeded $500 million within 24 hours, indicating heightened market activity.
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Ether is approaching its all-time highs, just $150 away, fueled by increased institutional demand.
Bitcoin price updates: Significant movements as institutional interest surges. Stay informed with the latest crypto news!
What is the current state of Bitcoin and Ether prices?
Bitcoin (BTC) is currently targeting new all-time highs, recently piercing the $122,000 mark. This surge is accompanied by increased institutional interest, particularly in Ether (ETH), which is nearing its previous record highs.
How are crypto liquidations impacting the market?
Recent data indicates that over $500 million in crypto positions were liquidated in just 24 hours. This volatility is primarily driven by Bitcoin’s price movements, which have led to significant short position liquidations across the market.
Frequently Asked Questions
What factors are driving Bitcoin’s price surge?
Bitcoin’s price surge is largely attributed to renewed institutional interest and significant liquidations of short positions, which have created upward pressure on prices.
Why is Ether approaching its all-time highs?
Ether is nearing its all-time highs due to increased demand from institutional investors, who are actively trading and investing in the cryptocurrency.
Key Takeaways
- Bitcoin’s volatility is back: The cryptocurrency is testing new price levels, indicating a potential breakout.
- Liquidations are significant: Over $500 million in crypto positions were liquidated recently, highlighting market volatility.
- Institutional interest is rising: Both Bitcoin and Ether are seeing increased trading volumes from institutional players.
Conclusion
In summary, Bitcoin is on the verge of new all-time highs, driven by strong institutional interest and significant market activity. Ether is also poised for a breakout, as it approaches its previous record. Keeping an eye on these developments is crucial for investors looking to navigate the evolving crypto landscape.
Bitcoin, altcoin volatility liquidates $500 million
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD piercing the $122,000 mark before cooling.
Up 1% on the day, the pair faced resistance around current all-time highs as short positions were liquidated across crypto markets.
Data from monitoring resource CoinGlass put total 24-hour liquidations at over half a billion dollars at the time of writing.
“$BTC went right through,” trading commentator TheKingfisher summarized in part of a reaction on X.
Popular trader Daan Crypto Trades concluded that Bitcoin would either continue to range or break out into price discovery next.
“BTC is still range-bound currently and will need to either break out into price discovery or continue to go sideways to build up more positions on both sides,” he told X followers about the CoinGlass data.
“No major liquidity cluster anywhere in close proximity right now to go off. Focus lies on alts for many market participants.”
Anticipation of new all-time highs for the top altcoin, Ether (ETH), continued to build on the day, with ETH/USD reaching its highest levels since December 2021 — less than $150 away from uncharted territory.
Both Ether and Bitcoin fielded increased institutional interest. As Cointelegraph reported, blockchain technology firm BitMine announced a $20 billion fundraising round to purchase ETH, while institutional entities made up 75% of Coinbase trading volume on Tuesday.
$126,000 “pivotal” for Bitcoin going forward
In further good news for the bulls, popular trader and analyst Rekt Capital said that $120,000 was now BTC price support.
“Bitcoin has fully confirmed its breakout from the Bull Flag and turned the $120k level into new support. Bitcoin has entered trend continuation, with a chance at challenging new All Time Highs soon,” he wrote on the day.
Rekt Capital added that $126,000 would be the “pivotal” price point to watch.
For Ether, he said, $4,631 would be the support level required to fuel an excursion into price discovery.
