In the last 24 hours, Bitcoin ($BTC ) has reached a price level of $97,000, rising by 0.6% and aiming for the mark of $100,000. Following BTC, altcoins have shown significant growth, while major tokens have maintained an upward trend.
According to CoinMarketCap data, Bitcoin is trading at $96,204.85, which is 3.3% lower than its all-time high of $99,655.50, recorded just six days ago. Interestingly, Coinglass data shows that $186.15 million was liquidated in the cryptocurrency market, and $84.43 million in shorts contributed to the price increase of Bitcoin.
It is important to note that the BTC exchange rate fluctuates in the range of $99,000 to $90,000, indicating that consolidation in this zone could attract more capital into altcoins as investors reinvest profits from Bitcoin.
Moreover, Coinglass data shows that if BTC falls to $94,300, then a monumental $1.12 billion in longs risks being liquidated. On the other hand, if Bitcoin aims for a price level of $98,100, then a significant $842 million in BTC shorts is at stake.
Interestingly, the Relative Strength Index (RSI) for Bitcoin is 67, indicating that buyers are currently in control of its price.
