JUST IN: Bitcoin Rally Continues – New All-Time High Price Record Arrives

CoinMarketCap
2024-11-20

The Bitcoin (BTC) price is experiencing a new rally and with the momentum it has gained, it has climbed to a new all-time high price level of $93,708.

Chart showing the recent rise in BTC price.

Bitcoin price has been consolidating for a few days after the recent records. However, the increase in the last week has been around 5%.

Related News: Donald Trump is Rumored to Appoint a Cryptocurrency Bull to a High Level Position in the Administration

The reason for the rise is shown as the election of cryptocurrency-friendly Donald Trump as US President and the possibility of creating a strategic Bitcoin reserve. In addition, the FED's interest rate cut process also contributes to the rise of BTC.

However, along with the rise in the cryptocurrency market, there was also a large amount of liquidation. In the last 24 hours, there was a liquidation of $288 million in the cryptocurrency market, $174 million of which was in long positions. In the previous record rally, the amount of liquidation exceeded $600 million.

*This is not investment advice.

Continue Reading: JUST IN: Bitcoin Rally Continues – New All-Time High Price Record Arrives

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