*Bitcoin reaches a new historical record of $88,000 while $700 million is liquidated in the crypto market *

The cryptocurrency market faced a historic day on November 11 when bitcoin reached its all-time high of $88,000, triggering a wave of liquidations that left losses of nearly $700 million. This surge in the price of bitcoin (BTC) brought significant consequences for traders, especially for those who bet against this rise.

Bitcoin reaches a new all-time high of $88,000

Bitcoin, the flagship asset of the cryptocurrency market, reached an unprecedented level, surpassing $88,000. This bullish rally surprised many analysts and traders, who did not anticipate such rapid growth in such a short time. Since its creation in 2009, bitcoin has proven to be a volatile asset, but this latest rise marks an important milestone, underscoring the strength and popularity of the cryptocurrency in the global financial market.

This increase not only affected bitcoin but also other high-cap cryptocurrencies like Ethereum, Solana, and Cardano. Liquidations in leveraged positions of these assets increased dramatically, evidencing the inherent volatility of the crypto market.

Massive liquidations: Nearly $700 million wiped out in 24 hours

The surge in Bitcoin triggered a series of liquidations totaling $676.76 million on major cryptocurrency exchanges, including platforms like Binance, OKX, KuCoin, Bybit, and Bitget. According to data from CoinGlass, in the last 24 hours, more than 177,000 traders suffered significant losses in the derivatives market, with the largest individual liquidation recorded on Binance, where a single trader lost $15.70 million$BTC #tothemoon #BecomeCreator