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News / Crypto / BTC price hits all-time high of $70,000
BTC price hits all-time high of $70,000
Published: 08.03.2024
Following a period of relative stability post-recent volatility, the leading cryptocurrency has surged to a fresh all-time high exceeding $70,000, as bullish momentum takes charge once again.
Echoing Bitcoin's trajectory, Ethereum's native token experienced a similar surge, surpassing $4,000, only to plummet minutes later.
Bitcoin's current week has been marked by significant volatility. Starting below $69,000 on Monday, it breached this mark on Tuesday, surpassing its 2021 all-time high.
However, bearish pressure ensued, leading to a sharp downturn shortly after reaching the new peak, resulting in Bitcoin dropping below $60,000 and liquidating positions worth billions of USD.
Despite this, Bitcoin swiftly rebounded, settling around $67,000 by Wednesday and maintaining this level for the next few days.
Today, another spike saw Bitcoin surpass $70,000 for the first time, but bearish forces intervened once more, halting its upward momentum and causing it to retreat to approximately $68,000.
Similarly, Ethereum surged past $4,000 to reach a new two-year high but faced a similar reversal, now trading well below that threshold.
This increased volatility has inflicted considerable losses on over-leveraged traders, with liquidated positions totaling $100 million within the past hour and over $250 million on a daily basis.
Echoing Bitcoin's trajectory, Ethereum's native token experienced a similar surge, surpassing $4,000, only to plummet minutes later.
Bitcoin's current week has been marked by significant volatility. Starting below $69,000 on Monday, it breached this mark on Tuesday, surpassing its 2021 all-time high.
However, bearish pressure ensued, leading to a sharp downturn shortly after reaching the new peak, resulting in Bitcoin dropping below $60,000 and liquidating positions worth billions of USD.
Despite this, Bitcoin swiftly rebounded, settling around $67,000 by Wednesday and maintaining this level for the next few days.
Today, another spike saw Bitcoin surpass $70,000 for the first time, but bearish forces intervened once more, halting its upward momentum and causing it to retreat to approximately $68,000.
Similarly, Ethereum surged past $4,000 to reach a new two-year high but faced a similar reversal, now trading well below that threshold.
This increased volatility has inflicted considerable losses on over-leveraged traders, with liquidated positions totaling $100 million within the past hour and over $250 million on a daily basis.
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