Bitcoin has seen an 11.7% increase over the past 24 hours, peaking at a value of $35,280. Currently, BTC has pulled back and is trading around $34,000, marking a 22.2% rise over the last week. Thanks to Bitcoin’s sharp surge, other cryptocurrencies also experienced positive momentum, but none outpaced Bitcoin in terms of growth rate. The overall market capitalization has reached $1.3 trillion, with Bitcoin’s dominance standing at 51.3%.
Many experts attribute this growth to anticipation of the approval of a spot ETF in the US. It’s also speculated that tensions in the Middle East could be a contributing factor, as investors look for ways to diversify risks. Analysts suggest that Bitcoin could hit the $45,000 mark this year. Rekt Capital believes that surpassing the $31,000 threshold was a pivotal moment for the current trend.
With the market’s heightened activity, about 91,000 investor positions were closed in the last day. The total amount of these liquidations reached $388 million, with $297 million attributed to short positions. On the Binance platform, one of the BTC/USDT positions was closed at a value of $10 million.
