Bitcoin Surges to New All-Time High of $81,500 Amid 5% Daily Rise and $690 Million in Liquidations

On November 11th, Bitcoin surged to an astonishing $81,500, establishing a new all-time high. Presently, the leading cryptocurrency is trading at approximately $80,709, reflecting a robust increase of over 5% within the last 24 hours. Analysis from Coinglass indicates that the cryptocurrency sector experienced significant activity, with a total of $690 million in liquidations recorded over the same period. Notably, short positions accounted for the majority of these liquidations, highlighting the current market sentiment leaning towards bullish behavior among traders. As Bitcoin continues to showcase its volatility, investors must remain vigilant, balancing opportunities against potential risks inherent in the cryptocurrency market.