The leading cryptocurrency Bitcoin (BTC)$BTC
, caught a new uptrend and climbed to a new all-time high of $95,690 thanks to this momentum.
BTC is currently trading at $95,600, up 4% on the day. It would take around 4.7% to reach $100,000.
With this rise in Bitcoin, the ETH/BTC parity fell below 0.033, seeing its lowest level since April 2021.
Bitcoin's market dominance stands at 61.4%.
This increase in Bitcoin also led to a massive liquidation wave. In the last 24 hours, a total of $393 million was liquidated in the cryptocurrency market. $267 million of this was from long positions and $126 million from short positions. Bitcoin was the asset that experienced the largest liquidation with $77.4 million, followed by Ethereum and Dogecoin (DOGE).
A total of 149,210 investors liquidated in the last 24 hours, with the largest liquidation occurring in the ETH/BTC trading pair on Binance.
BRN analyst Valentin Fournier stated that he expects this rise in Bitcoin to continue, and that he predicts that Bitcoin will not only pass but also exceed $ 100,000 by the end of the year.
“These increases confirm my thesis that an accumulation phase is occurring before the year-end explosion. If this momentum continues, Bitcoin prices could reach $120,000 before 2025, driven by its solid performance following the US presidential election and increasing retail interest in its long-term potential,” Fournier said.
