The cryptocurrency market has begun the exciting wait for a new all-time high price record, with the Bitcoin price recently surpassing $107,000 today.
The BTC price broke the all-time high price record at $109,114 on January 20, 2025. Only a 2.23% increase from the current level of $106,534 will bring the record.
However, when we take into account inflation in the US, the BTC price needs to exceed $110,187 to reach its January purchasing power price.
There has been increasing optimism in BTC due to rising concerns over the United States’ fiscal debt. Uncertainty remains about how the government plans to achieve economic growth while reducing spending, especially in light of the ongoing disagreements between Democratic and Republican lawmakers. This could be the source of the rally.
The rise in BTC prices has brought with it a large amount of liquidation in the last 24 hours. The cryptocurrency market has seen $223 million in liquidation in the last day. $112 million of these were recorded in long positions and $111 million in short positions.
*This is not investment advice.
