At 11:40 a.m. ET on Thursday, bitcoin (BTC) surpassed the $65,000 mark. After the latest surge, the current trading price of each BTC is $65,430 per coin.

Bitcoin peaks above $65,000

Bitcoin (BTC) had a surge today, reaching $65,499 during morning trading hours. Of the total cryptocurrency trading volume for the day of $95.27 billion, BTC accounted for $32.04 billion of that activity. After hitting $65,000 at 10:15 a.m. ET, bitcoin's value quickly stabilized back in the mid-to-upper $64,000 range. While trading volume spiked during the rally, it eased as selling pressure returned. By 11:40 a.m. ET, BTC was back well above the $65,000 range, reaching a high of $65,499.

Over the 24-hour period, $21.19 million worth of BTC shorts were liquidated, according to crypto derivatives data from coinglass.com. BTC longs were not spared either, with $12.46 million wiped out. Total liquidations across all cryptocurrencies during the period totaled $131 million as the market rallied, with $66.5 million worth of longs and $64.4 million worth of shorts wiped out.

About 54,129 traders were liquidated on Thursday. Furthermore, a major quarterly options expiration is approaching on Friday, involving about $9 billion in BTC and ETH contracts set to settle. Open interest in futures and options has also been steadily rising in recent weeks, as reflected in statistics from coinglass.com. Additionally, spot bitcoin and ether exchange-traded funds (ETFs) have seen positive inflows over the past few days.

What do you think about the bitcoin market performance on Thursday? Share your thoughts and opinions on the topic in the comments section below.
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