Bitcoin has once again set a historical record, reaching a maximum price of $124,457.12. Its market capitalization is approaching $3 trillion, confirming the growing interest in the cryptocurrency.
State of the Bitcoin Market
In the last 24 hours, Bitcoin rose more than 2.21% and increased by 6.39% over the week. Annually, the price has grown by 100.37%. The significant market interest allowed Bitcoin to surpass Google in market value.
Market Liquidations
In the past day, Bitcoin liquidations reached $142.40 million, with $116.38 million coming from short positions. This indicates traders are betting on a potential price drop, although bullish sentiment continues to prevail. In a 4-hour time frame, long liquidations amounted to $14.62 million.
Forecasts and the Future of Bitcoin
Despite current fluctuations, many experts, including Michael Saylor and Cathie Wood, are confident that Bitcoin may reach one million dollars. Factors such as the anticipated interest rate cuts from the Fed could contribute to further price increases and a market cap of $5 trillion.
Bitcoin continues to attract attention from both retail and institutional investors. The price and market cap growth confirms its status as the leading cryptocurrency in the market.
