Bitcoin's recent surge not only set new records but also resulted in significant losses for traders, triggering one of the most brutal liquidations in recent years.
Record Bitcoin Rise
Bitcoin has soared to a new all-time high of $118,000, driven by increasing institutional demand and overall positive market dynamics.
Mass Liquidations
Over the last 24 hours, liquidations exceeded $1 billion, marking the largest liquidation event in four years. Over 232,000 traders were affected, with short positions on Bitcoin suffering the largest losses at $570 million.
Analyst Predictions
Analysts expect the positive trend to continue, citing high institutional inflows into Bitcoin ETFs and improving market sentiment. Bitwise CEO Hunter Horsley predicts that Bitcoin could reach $200,000 by the end of the year.
The cryptocurrency market continues to experience significant fluctuations, highlighting the growing interest of investors and Bitcoin's potential as a reliable asset.
