Bitcoin is gradually approaching the $70,000 level, and shares of issuers associated with cryptocurrencies are also rising in price.

The flagship cryptocurrency has gained almost 9% in a week and is currently trading at $68,800. Other cryptocurrencies are also rising in price: Ethereum is up more than 8.3%, Solana is up 7.2%. This growth is outpacing the rate of traditional stock indices, in particular the S&P 500 and Nasdaq, which have risen by less than 1% over the past five trading sessions.

Bitcoin rate

Rising Bitcoin has become a catalyst for cryptocurrency-related stocks. On Friday, mining companies Hive Digital and Hut 8 soared 15%. Major miners CleanSpark, Riot Platforms, and Bitfarms all rose between 7% and 10%.

US cryptocurrency exchange Coinbase shares rose by almost 8%. Shares of the largest corporate holder of bitcoins, MicroStrategy, soared by more than 11%.

The rise in the BTC rate has led to the total amount of liquidations on centralized crypto exchanges increasing to $113 million over the past 24 hours. According to Coinglass, Bitcoin has become the first asset in terms of liquidations. The flagship cryptocurrency accounted for more than $30 million in closed positions.

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