Bitcoin (BTC) Hits New Record at $81,850, Market Continues Rising
The leading cryptocurrency Bitcoin (BTC) broke a new price record on Sunday evening, approaching $81,850. While the bull run in the crypto market continues at full speed, the rise that started after the US presidential elections on November 6 gained momentum over the weekend with BTC breaking records.$BTC
Over the weekend, 215,504 traders were liquidated as Bitcoin’s price volatility increased. A total of $645 million worth of liquidations occurred in the crypto market in the last 24 hours. $363 million of these liquidations were caused by bullish (long) positions.
Bitcoin showed a significant performance with a trading volume of over $100 billion over the weekend and attracted attention by increasing its price by 5%. This strong increase paved the way for the rise of many altcoins. Altcoins that lost value in previous weeks experienced recoveries over the weekend. Especially major altcoins such as Cardano (ADA) and Cosmos (ATOM) rose. However, Ethereum (ETH) showed a volatile performance throughout the week and lost 3% of its value.
Crypto Market Starts New Week with a Drop
The crypto market started the new week with a general decline. With Bitcoin pulling back by 1.25%, many altcoins also lost around 10%. Crypto analyst Michael van de Poppe considered such declines as a normal correction in a bull market.
Poppe stated that price fluctuations and pullbacks are normal in uptrends. He emphasized that investors should avoid making hasty decisions in such price movements. In addition, the famous analyst stated that a pullback of 20% to 30% in altcoins could create great opportunities, saying, "Altcoins will show a much stronger rise than expected, and the new audience has not seen these opportunities yet."
Cryptocurrency investors should be prepared for possible recoveries in popular altcoins as they continue to take strategic steps considering market volatility.