Bitcoin price jumped 2.3% in just two minutes, establishing a new all-time high above $116,000.
Sudden Surge in Bitcoin Price
According to recent reports, the price of Bitcoin (BTC) rose sharply to $116,868. This marks a significant increase after a prolonged period of stability.
Reasons for the Price Increase
Key factors contributing to this rise include a lack of attention to Donald Trump's tariff threats and expectations that the Federal Reserve may begin interest rate cuts in September. Investor sentiment has also played a significant role in the current bullish trend.
Cryptocurrency Market and Liquidations
The recent surge in Bitcoin has led to $555 million in liquidations across the cryptocurrency market in just the last hour, with $540 million attributed to short positions.
Thus, Bitcoin is demonstrating stable growth, drawing attention and interest from investors against the backdrop of changes in the economic landscape.
