Bitcoin made a significant leap in the last hours, rising above the $64,000 mark after a long period of stagnation. In the last 24 hours, the price of BTC has increased by an impressive 6.5%.
BTC Price Surge
The increase in Bitcoin's price is linked to a dovish speech by Federal Reserve Chairman Jerome Powell. At the time of writing, BTC is trading at $64,497.
Cryptocurrency Market Liquidations
High volatility in the Bitcoin market has triggered massive liquidations. In the last 24 hours, $154 million worth of assets were liquidated in the cryptocurrency market, with $120 million of these being in short positions.
Altcoin Market Situation
Similar value increases were observed in the altcoin market. The world's largest altcoin, Ethereum, has increased in value by 5.65% and is approaching the $2,800 barrier. Among the top 100 cryptocurrencies, POPCAT, 1000SATS, and SUI showed the highest value increases. None of the top 100 cryptocurrencies were in the red zone in the last 24 hours.
The rise of Bitcoin above $64,000 led to notable price increases in several altcoins. However, high volatility continues to have a significant impact on the market, as evidenced by the latest liquidation data.
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