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Bitcoin (BTC) - which is often called “digital gold” - is going through severe price fluctuations, as its value recently succeeded in exceeding the level of $34,000 to the top, which led to the liquidation of more than $220 million worth of margin betting deals on the decline in its value. In just 24 hours, which is a testament to the volatile nature of this currency. This upward trend was not limited to BTC only, but the entire sector was affected by the upward trend, which led to extensive liquidations with a total value exceeding $400 million. Amid this turmoil, Bitcoin stands tall, trading around a remarkable level of $34,750.
It is noteworthy that the value of Bitcoin has risen by more than 13% in the last day, with the total market value of the global crypto sector increasing by 9.8%. André Dragosch, an analyst at Deutsche Digital Assets, believes that the rise in prices is due to a combination of pressure from closing down margin deals and major developments on blockchain, including increased transfer volumes and expanded investor purchasing operations. However, Dragosh warns of a possible price correction in the foreseeable future, as the picture appears complex regarding the price path of Bitcoin due to increased institutional interest and the possibility of approving the establishment of exchange-traded funds for spot Bitcoin trading (Bitcoin Spot ETFs), as well as global economic scenarios.
It is noteworthy that the value of Bitcoin has risen by more than 13% in the last day, with the total market value of the global crypto sector increasing by 9.8%. André Dragosch, an analyst at Deutsche Digital Assets, believes that the rise in prices is due to a combination of pressure from closing down margin deals and major developments on blockchain, including increased transfer volumes and expanded investor purchasing operations. However, Dragosh warns of a possible price correction in the foreseeable future, as the picture appears complex regarding the price path of Bitcoin due to increased institutional interest and the possibility of approving the establishment of exchange-traded funds for spot Bitcoin trading (Bitcoin Spot ETFs), as well as global economic scenarios.
After SHIB was exposed to excessive selling pressure over the past few weeks and months, the currency is now positioned in a suitable position that enables it to achieve a strong price rebound upward, as evidenced by the price jumps recorded over the past few days.
Key Solana developments revealed by Solflare, a well-known Solana wallet provider. announced a new ability that enables MetaMask users to easily oversee their Solana holdings within their existing MetaMask wallet. This integration represents a significant development in the cryptocurrency space, as it creates a connection between Solana and Ethereum. This reduces barriers to entry into the Solana ecosystem and enhances user convenience.
Founded in 2021, CyberConnect is a decentralized protocol aimed at giving users control over their digital identity, content, and social interactions. Its three main products are CyberAccount, CyberGraph and CyberID. While CyberAccount aims to simplify the complexity of gas payments across multiple networks and modernize the integration process for multi-chain Web3 businesses. CyberGraph helps store user-generated content and makes it easier to connect different blockchain networks.