Bitcoin (BTC) has reached a new record high of $112,679. This increase is attributed to rising institutional interest and a generally positive market atmosphere.
Bitcoin's Historic High
According to data from cryptocurrency exchange Binance, Bitcoin has surpassed its historical maximum, setting a new high at $112,679. This event is accompanied by an increase in institutional interest as well as an overall rise in risk appetite in the financial markets.
Liquidations in the Crypto Market
In the last 24 hours, a total of $563.84 million worth of positions were liquidated in the market. Of this, $496 million came from short positions, while only $67 million came from long positions. The largest liquidations occurred in the following cryptocurrencies: * BTC: $258.28 million * ETH: $149.31 million * HYPE: $26.71 million
Future of Bitcoin and Expert Opinions
Ryan Gorman, strategy director of Uranium Digital, remarked that upcoming events such as the 'crypto week' in Washington DC and declining transaction volumes could pave the way for further increases in Bitcoin. He added, 'Given the combination of upward momentum and shrinking volumes, it wouldn’t be surprising if Bitcoin jumps to $120,000 next week.'
The current situation in the cryptocurrency market and positive sentiments among traders create favorable conditions for Bitcoin's further growth. However, uncertainty during the summer months may influence price dynamics.
