The price of the leading cryptocurrency Bitcoin (BTC) is experiencing a new rise and with this momentum it climbed to a new all-time high of $95,690.
BTC is currently up 4% in the 24-hour period to $95,600. It would take about a 4.7% increase to reach $100,000.
With this rise in Bitcoin, the ETH/BTC parity also fell below 0.033, reaching a new low since April 2021.
Bitcoin dominance is at 61.4%.
Along with the rise in Bitcoin, there was also a large amount of liquidation.
There was a liquidation of $393 million in the cryptocurrency market in the last 24 hours.
Of these, $267 million consisted of long positions, while $126 million consisted of short positions.
Bitcoin ranked first with $77.4 million, followed by Ethereum and Dogecoin (DOGE).
While 149,210 investors liquidated in the last 24 hours, the largest liquidation occurred in the ETH/BTC trading pair on Binance.
Bitcoin Price Could Reach $125K Before 2025!
BRN analyst Valentin Fournier said in a statement that he expects this upward momentum in Bitcoin to continue and that he believes that Bitcoin will not reach $100,000 before the end of the year, but rather surpass it.
“These increases confirm our thesis of an accumulation phase before the year-end explosion.
If this momentum continues, Bitcoin prices could reach $120,000 before 2025, driven by its solid performance since the US presidential election and increasing retail interest in its long-term potential.”
*This is not investment advice.