The price of the leading cryptocurrency Bitcoin (BTC) is experiencing a new rise and with this momentum it climbed to a new all-time high of $95,690.
BTC is currently up 4% in the 24-hour period to $95,600. It would take about a 4.7% increase to reach $100,000.
With this rise in Bitcoin, the ETH/BTC parity also fell below 0.033, reaching a new low since April 2021.
Bitcoin dominance is at 61.4%.
Along with the rise in Bitcoin, there was also a large amount of liquidation.
There was a liquidation of $393 million in the cryptocurrency market in the last 24 hours.
Of these, $267 million consisted of long positions, while $126 million consisted of short positions.
Bitcoin ranked first with $77.4 million, followed by Ethereum and Dogecoin (DOGE).
While 149,210 investors liquidated in the last 24 hours, the largest liquidation occurred in the ETH/BTC trading pair on Binance.
Bitcoin Price Could Reach $125K Before 2025!
BRN analyst Valentin Fournier said in a statement that he expects this upward momentum in Bitcoin to continue and that he believes that Bitcoin will not reach $100,000 before the end of the year, but rather surpass it.
“These increases confirm our thesis of an accumulation phase before the year-end explosion.
If this momentum continues, Bitcoin prices could reach $120,000 before 2025, driven by its solid performance since the US presidential election and increasing retail interest in its long-term potential.”
*This is not investment advice.
Continue Reading: New ATH in Bitcoin, Very Close to $100K! Here is the New Record and What You Need to Know!
Disclaimer
The information provided in this article is only for educational and informational purposes and should not be considered financial or investment advice. We are not licensed financial advisors. Always conduct your research and seek guidance from a certified financial professional before making any investment decisions.
