Bitcoin neared the $97,000 price level, just 3% off from its all-time high.
$1.2 billion are at the risk of being liquidated in BTC longs if BTC dips to $94.3K.
XRP surged 8.17% in 24 hours amid bullish partnership announcements.
Bitcoin (BTC) made its way to the $97,000 price level in the past 24 hours, surging 0.6% and aiming for the $100,000 milestone. Following BTC’s lead, altcoins posted significant gains, with major tokens maintaining an upward trend.
As per CoinMarketCap data, Bitcoin trades at $96,204.85, at a 3.3% discount from its all-time high of $99,655.50, seen just six days ago. Interestingly, Coinglass data reveals $186.15 million liquidated from the crypto market, with $84.43 million in shorts contributing to Bitcoin’s price rise.
Bitcoin’s Trading Range and Liquidation Risks
It is important to note that BTC has been fluctuating between $99,000 and $90,000, suggesting that consolidation in this zone could drive more capital into altcoins as investors reinvest Bitcoin profits.
Additionally, Coinglass data shows that if BTC falls to $94,300, a monumental $1.12 billion in longs are at the risk of being liquidated. On the other hand…
The post Bullish Momentum Sweeps Crypto Market: BTC Hits $97K, XRP and ALGO Lead Altcoin Gains appeared first on Coin Edition.
