The world’s largest cryptocurrency, Bitcoin, has surpassed the psychological limit of $69,000, according to the latest data.
At the moment of writing this article, BTC is trading at $69,142 and there is only a 5% difference left to break the all-time high price level record. On the other hand, we see an attack on the Ethereum side. While the Bitcoin price increased by 0.60% in the last hour, this value was 1.38% in Ethereum and at the moment of writing this article, the ETH price is trading at $2,745.
The $69,000 mark represented the all-time high for Bitcoin price prior to the recent record high.
There is no expectation of any significant economic data in the new week, other than the FED’s Beige Book document to be published on Wednesday. However, it was noteworthy that such an increase occurred on Sunday, when spot ETFs, which have attracted large amounts of funds in recent times, were not traded.
When liquidation data is examined, we see that with the sudden increase, approximately $18 million worth of liquidation occurred in the cryptocurrency market in the last hour, and $18.5 million of these were observed in short positions.
*This is not investment advice.