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In summary
- Bitcoin reached an all-time high of $103,679 before falling to $98,969, showing high volatility after surpassing $100,000.
- $199 million in BTC futures were liquidated in 24 hours, with $127 million in shorts and $72 million in longs.
On Wednesday night, Bitcoin surpassed the $100,000 price point for the first time and continued to rise to $103,000, remaining above the all-time mark until Thursday—but it has finally fallen back into five figures.
BTC is currently trading at $98,969 at the time of writing, after falling from its all-time high of $103,679. Approximately $199 million in Bitcoin futures positions have been liquidated in the last 24 hours, according to CoinGlass data, including nearly $127 million in shorts (bets that the price will fall) and nearly $72 million in long positions (bets that BTC will will go up in price).
In the last hour alone, at the time of writing, $23 million in long Bitcoin positions have been liquidated. In total, $611 million in positions have been liquidated across all assets in the crypto ecosystem in the last day.
Even with the drop, Bitcoin remains up almost 4% over the last week, and 41% over the last 30 days. BTC has continued to reach new all-time highs after breaking the $73,737 mark it had been at for months on Election Day.
The recent rise in the prices of Bitcoin and other cryptocurrencies has been largely attributed to Donald Trump’s victory for a second term in the White House, given his pro-crypto campaign and several promises made towards the industry. On Thursday, Donald Trump took credit for Bitcoin’s rise above $100,000.
“Congratulations Bitcoiners,” Trump said in a Truth Social post. “$100,000!!! You’re welcome!!! Together, we will make America great again!”
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