Bitcoin price is experiencing a new rally, reaching a record high of $93,708. The growth is primarily driven by Donald Trump's election victory and the FED's interest rate cut.
Bitcoin Price Surge
Bitcoin has been consolidating in the recent days after setting new records. The increase over the past week stands at approximately 5%.
Drivers of Growth
The rise is attributed to the election of cryptocurrency-friendly Donald Trump as US President and the possibility of establishing a strategic Bitcoin reserve. Additionally, the FED's interest rate cut has contributed to the rise of Bitcoin.
Market Liquidation
Alongside the cryptocurrency market rally, substantial liquidations occurred. In the last 24 hours, there was a liquidation of $288 million, $174 million of which was in long positions. During the previous record rally, the liquidation amount exceeded $600 million.
Bitcoin continues to demonstrate impressive performance, reaching a new all-time high. This growth is accompanied by significant liquidations in the cryptocurrency market.
