Bitcoin has once again captured investor attention by breaking its all-time high and increasing in price over the past week.
All-Time High Update
Bitcoin reached an all-time high price of $119,292.62, after which its price retreated slightly and is currently trading at $118,979.14. The cryptocurrency has gained 9.22% over the past week.
Market Liquidations in 24 Hours
In the last 24 hours, the cryptocurrency market saw a total of $205.37 million in liquidations. Of this amount, $83.77 million came from long positions and $121.59 million from short positions. The assets that saw the most liquidations were as follows: BTC: $41.13 million, ETH: $35.06 million, XRP: $15.32 million, and XLM: $10.69 million. Altcoins like PENGU, DOGE, SOL, and HBAR also saw liquidations worth millions of dollars.
Factors Driving Bitcoin Growth
Nic Puckrin, a crypto analyst and founder of Coin Bureau, stated, "Bitcoin has historically been highly correlated with tech stocks, and that trend continues." Bitcoin has risen around 21% since the beginning of 2025, supported by the Trump administration's crypto-friendly policies, including the creation of a strategic Bitcoin reserve. Pepperstone research strategist Dilin Wu emphasized that the underlying reason for this rally is ongoing structural inflows from institutional investors, noting that firms like MicroStrategy and GameStop are accumulating Bitcoin.
Bitcoin continues to attract attention from both investors and companies, as evidenced by its growth and market liquidations.
