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In summary
- Bitcoin reaches a new all-time high of $107,822, with a weekly increase of 8.5%.
- Ethereum registers its highest level since 2021, reaching $4,081, although it is still 16% below its all-time high.
- Liquidations of short positions amount to $133 million for Bitcoin and $68 million for Ethereum in 24 hours, affecting bearish traders.
Traders betting against Bitcoin and Ethereum gains are licking their wounds on Monday, with short liquidations piling up as BTC hits record territory and ETH hits a peak not seen since 2021.
This Monday around 1:30 pm ET, Bitcoin hit a new all-time high price of $107,822, according to data from CoinGecko, with the price of the leading Cryptocurrency continuing to rise after breaking the previous record on Sunday.
A record price of just under $104,000 was set in early December, when Bitcoin hit the $100,000 milestone for the first time, and that peak was surpassed on Sunday night, when BTC rose to a new high of $106,352.
Meanwhile, Ethereum hit a high of $4,081 on Monday, hitting that mark just before 2pm ET. It is the highest price recorded by CoinGecko since December 2021, narrowly surpassing the peaks in March and early December of this year.
At the time of writing, Bitcoin’s rise has cooled slightly, with a current price of $106,202. It is up almost 3% on the day, with its weekly rise standing at 8.5%.
Down slightly to $4,041 at the time of writing, ETH is still up over 3% on the day. However, Ethereum price is still 16% below its all-time high of $4,878 set in November 2021.
Bitcoin’s continued gains are hitting short position holders, with more than $133 million worth of contracts liquidated in the last 24 hours, according to CoinGlass. Ethereum short positions liquidated during the same period amount to almost $68 million.
Overall, Bitcoin liquidations amount to $177 million in the last day out of a total of $489 million of liquidations linked to cryptoassets, while Ethereum liquidations amount to $97 million, including long positions.
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