Bitcoin Gains Momentum, Setting Sights on the $100K Milestone

Bitcoin recently surged past $99,000, marking a significant rebound for the world’s largest cryptocurrency.

This upswing follows key developments that appear to have fueled renewed investor optimism.

Donald Trump’s announcement of a pro-crypto nominee for SEC chair, coupled with a dovish tone from Federal Reserve Chair Jerome Powell, contributed to the bullish momentum.

Additionally, substantial inflows into BlackRock’s Bitcoin Spot ETFs further bolstered market sentiment. Over the past 24 hours, Bitcoin’s price has climbed by almost 3.5%, with altcoins registering even greater gains.

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However, the rally also triggered a wave of liquidations across the broader cryptocurrency market.

In the last 24 hours, liquidations reached $457.12 million, with $238.64 million coming from long positions, and 218.49 million in shorts. Bitcoin, Ethereum, XRP, and Solana were among the most liquidated assets during this volatile period.

Alexander Stefanov