Hot moments: Bitcoin (BTC) price surpasses $102,000, and Ethereum (ETH) achieves a massive rise!
Hot moments: Bitcoin (BTC) price surpasses $102,000, and Ethereum (ETH) achieves a massive rise! Here’s why the increase, the liquidation, and the latest developments...
The largest digital currency in the world, Bitcoin, surpassed the $100,000 mark today after a long time, and as the rise continues, it is trading above the $102,000 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, the Ethereum cryptocurrency saw an astonishing and sudden rise today. The largest altcoin surged over 20% in the last twenty-four hours, trading at $2,186 at the time of writing this report. With this increase, Ethereum achieved its largest gains since 2021.
The reason for these increases is that the United States is conducting 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, the most strained side in the tariff crisis, have eased. The U.S. administration has stated the possibility of reducing tariffs imposed on China by 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 United States' 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 also helped ease tensions in the geopolitical environment and triggered a rise in cryptocurrencies.
Along with the rise in the cryptocurrency market, significant liquidations were observed. According to Coinglass data, the cryptocurrency market experienced massive liquidations amounting to $793 million in the last twenty-four hours, of which $694 million were in short positions. You can see below the volume of liquidations in the last twenty-four hours.
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