After recently reaching a new all-time high, Bitcoin doesn't seem to be losing momentum and continues to surge.
The latest achievement is breaking the $77,000 level after surgin by around 0.3% on the daily chart and 10.8% in the past 7 days.
This places Bitcoin as the 9th most valuable asset in the world with $1.52 market cap – just shy of the 2nd largest commodity, silver.
Bitcoin’s extraordinary uptick started on the day of the elections in the U.S. an quickly spreadout to other cryptocurrencies.
During the past 24 hours $264.47 million were liquidated from the crypto market – $136.36 million being long positons and $128.13 million in shorts. Bitcoin accounted for $64.07 million of these positions.
Investors are feeling the bullish hype after Donald Trump was announced the winner of the 2024 presidential race and pro-crypto candidates succeded in securing the seats at the Senate.
This is expected to bring crypto-friendly legislation to the U.S., which could propel the prices even further.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.