The value of Bitcoin has witnessed a significant increase in the last 24 hours, with the currency price approaching the level of $37,000, resulting in financial liquidations exceeding $140 million.
The value of the leading cryptocurrency rose again, reaching a new unprecedented peak within 18 months, achieving an estimated price of about $36,700, based on data from the CoinMarketCap platform.
Other notable cryptocurrencies, including Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Polygon (MATIC), Polkadot (DOT), and others, are also witnessing notable increases.
The recent increase in cryptocurrency prices, especially the rise of Bitcoin, has caused millions of dollars to be liquidated.
According to what was reported from the “CoinGlass” platform, the total liquidations during the past 24 hours amounted to approximately $150 million, with short trades accounting for more than 80% of this total.
Bitcoin trades accounted for more than $65 million of this total, while Ethereum came in second with nearly $16 million.
Many analysts, including advanced AI model ChatGPT, assume that Bitcoin's bull run is far from over, predicting that it will reach new highs in the coming months.
Several key factors could support this expected rally, such as the potential approval of spot Bitcoin ETFs in the US, widespread adoption of cryptocurrencies, the upcoming Bitcoin fork event, and other factors.
Posted Using InLeo Alpha