$BTC

Bitcoin climbed above $73,000 Tuesday, nearing its all-time high as investors counted the days to the U.S. presidential election.

The price of bitcoin was last higher by 3.8% at about $72,333.10, according to Coin Metrics. Earlier, it rose to $73,601.59, its highest level since March 14, the day it reached its record.

The rise in bitcoin price triggered a wave of short liquidations, which propelled crypto prices higher. The cryptocurrency has seen more than $113 million in short liquidations in the past 24 hours, according to CoinGlass.

Crypto exchange platform Coinbase and bitcoin proxy MicroStrategy each rose 1%.

Bitcoin has struggled to reclaim $70,000 this year

Bitcoin has been confined to a tight range between $55,000 and $70,000. It has wrestled with the $70,000 level several times this year, and earlier forays above that level have turned out to be mere blips.