The Climb in Bitcoin Continues at Full Pace: Surpassed $54,000

Bitcoin (BTC), the world’s largest cryptocurrency, continues its rise and managed to exceed the $ 54,000 level with a major breakthrough.

Previously, this level was last observed at the end of November 2021 and BTC was declining at that time. With the climb, BTC reached its highest level in 2024.

Chart with minute candles showing the recent rise in BTC price.

Popular cryptocurrency analyst Michaël van de Poppe spoke after the latest rise and said that this rally surprised him. In his previous statements, Van de Poppe said that he expected a correction before the rise. In his current statement, he stated that his pre-halving target was achieved and that this week is important due to the preliminary US GDP data coming on Wednesday.

However, the BTC price has increased by over 5% in the last 24 hours, triggering a significant amount of liquidation. In the last hour, there was a liquidation of $35 million in the cryptocurrency market, and $31 million of these were in short positions.

On the other hand, the amount of liquidation that has occurred in the last 24 hours is even more surprising. There was a liquidation of $209 million in the cryptocurrency market in the last 24 hours, of which $141 million was in short positions.

The altcoins that experienced the most liquidation in the last 24 hours were Ethereum with 39 million dollars, Solana with 7.7 million dollars and Worldcoin with 7.6 million dollars, respectively.

*This is not investment advice.