Hot Moments: Bitcoin (BTC) surpasses 102,000 USD, and Ethereum (ETH) achieves a huge rise! Here’s why the surge, the liquidations, and the latest developments...
The largest cryptocurrency in the world, Bitcoin, surpassed the 100,000 USD mark today after a long time, and as the rise continues, it is trading above the 102,000 USD level at the time of writing this article.
The price of Bitcoin is only 6% away from a new all-time high.
On the other hand, Ethereum saw a stunning and surprising rise today. The largest altcoin achieved a rise of over 20% in the past twenty-four hours, and its price is trading at 2,186 USD at the time of writing this report. With this increase, Ethereum achieved its largest gains since 2021.
These increases are due to the United States engaging in more moderate talks and signing agreements with several countries regarding tariffs. A 10% tariff agreement was signed between the United States and the United Kingdom. Additionally, tensions with China have eased, which is the most strained aspect of the tariff crisis. The U.S. administration has stated that it may reduce tariffs imposed on China to about 50% next week.
Related news: What have the massive altcoin whales done during the bull run? They couldn't escape the on-chain data.
Finally, the U.S. statement that it is determined to end the war between Russia and Ukraine, along with Ukraine's positive outlook on a 30-day ceasefire, and the positive talks between Zelensky and Trump have also helped ease tensions in the geopolitical environment and triggered a rise in cryptocurrencies.
Alongside the rise of the cryptocurrency market, significant liquidations have been observed. According to Coinglass data, the cryptocurrency market saw a massive liquidation totaling 793 million USD in the past twenty-four hours, of which 694 million USD was in short positions. Below you can see the volume of liquidations over the past twenty-four hours.
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