Bitcoin has reached an all-time high of $107,822, surpassing previous records. Ethereum peaked at $4,081, its highest since December 2021. This surge has caused over $133 million in short liquidations for Bitcoin and nearly $68 million for Ethereum in just 24 hours, reflecting significant market volatility.

On Monday, Bitcoin achieved an unprecedented price surge, reaching an all-time high of $107,822 around 1:30 PM ET, according to data from CoinGecko. This increase follows a previous record of $106,352 established late Sunday, surpassing an earlier peak of just under $104,000 from December. In tandem with Bitcoin’s momentum, Ethereum also made noteworthy advancements, peaking at $4,081 shortly before 2 PM ET, marking its highest price since December 2021. Although Bitcoin’s price has slightly retracted to $106,202 as of this writing, it still reflects an increase of nearly 3% for the day and an impressive 8.5% for the week.

Simultaneously, Ethereum’s current pricing at $4,041 represents a more than 3% daily gain, yet it remains 16% shy of its all-time high of $4,878 reached in November 2021. This Bitcoin rally has led to significant liquidations in short positions, with over $133 million in liquidations occurring in just 24 hours, as reported by CoinGlass. Additionally, Ethereum short liquidations for the same time frame reached nearly $68 million. In total, Bitcoin liquidations accounted for $177 million of the $489 million linked to the broader crypto market, while Ethereum liquidations included $97 million from both short and long positions.

The cryptocurrency landscape has been witnessing remarkable price fluctuations, particularly with Bitcoin and Ethereum gaining momentum recently. Bitcoin has historically been viewed as a bellwether for the cryptocurrency market, influencing trading sentiment. As traders and investors closely monitor price movements, liquidations in both short and long positions reflect market volatility and sentiment shifts. The recent peaks achieved by both Bitcoin and Ethereum signal renewed investor interest amidst an evolving financial landscape.

In summary, the recent price increases of Bitcoin and Ethereum demonstrate the dynamic nature of cryptocurrency trading. With Bitcoin reaching a new high of $107,822 and Ethereum hitting $4,081, both cryptocurrencies have attracted substantial attention in the markets. The significant liquidations of short positions also illustrate the potent volatility and risk associated with trading cryptocurrencies. As the market develops, these movements may indicate shifts in investor sentiment and strategies moving forward.

Original Source: decrypt.co

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