On Monday morning, the value of Bitcoin reached an unprecedented peak of $109,356 on the Bitstamp platform, precisely at 06:56 Universal Coordinated Time.
Currently, the primary cryptocurrency is being traded near the $108,000 mark, having slightly reduced its recent increases.
The leading cryptocurrency, by market capitalization, surpassed its earlier all-time high, which it had achieved on December 16, after over a month.
On January 13th, Bitcoin experienced a significant drop, reaching a low of approximately $89,164. This steep decline, amounting to around 18%, was primarily due to heightened worries over the Federal Reserve’s shift towards more aggressive monetary policies.
The cryptocurrency has now rallied by roughly 23% after reaching the aforementioned local low.
Over the last 24 hours, I’ve witnessed unprecedented volatility in the market. Approximately $1.25 billion of both long and short positions have been forced to close during this period.
The price of Bitcoin is climbing significantly because many people anticipate a strong shift towards cryptocurrencies within the United States, which could be favorable for digital currencies.
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2025-01-20 10:20