Bitcoin, the world's largest cryptocurrency, has seen a sudden jump, surpassing the $111,000 mark, just $970 away from its record high.
Bitcoin Price Surge
The recent rise in Bitcoin's price has resulted in a sudden movement above the $111,000 mark, which is only $970 shy of its all-time high of $111,970.
Liquidation Wave on Crypto Market
This surge has also triggered a wave of liquidations in the cryptocurrency market. In the last hour, a total of $168 million worth of liquidations occurred, with $165 million affecting short positions, indicating that almost all the liquidations impacted these. Bitcoin's liquidations accounted for $110 million, while Ethereum saw $30 million in liquidations.
Economic Talks Between the US and China
The growing interest in Bitcoin is attributed to positive news from economic talks between the US and China, as well as a statement from US President Donald Trump regarding the positive progress of the discussions.
In summary, the current rise in Bitcoin may continue due to positive economic news and high liquidation volumes in the market.
