Bitcoin Breaks Past $76K, Marking a New All-Time High

After Bitcoin's price broke the previous all-time high earlier today, the number one cryptocurrency by market cap seems to be continuing the bullish surge.

Bitcoin saw an impressive 9.66% rise in the past 24 hours and peaked at a little over $76,000 with $114 billion in trading volume (up 143% since yesterday). BTC’s market cap currently stands at $1.5 trillion.

Ethereum also witnessed a notable surge with the price reaching $2,700 after rising 11.36% with a $39.3 billlion trading volume and a market cap of around $325 billion.

During this period $572.59 million were liquidated in the crpytocurrency maret with $393.55 million being short positions and $179.14 million in longs (with $296.31 million being Bitcoin.)

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This notable bullish trend is the aftermath of the presidential election in the United States, where Donald Trump won the race by a landslide.

Additionally, analysts are expecting a 0.25 bps rate cut from the Federal Reserve tomorrow, which will add to the market optimism.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.