Bitcoin (BTC) has made history once again. According to Binance data, the largest cryptocurrency broke the highest price record in history, reaching $125,819 before $125,819.
The government has been shut down in the US and the uncertainty it has created in the global market is cited as the most important reason behind this rise.
Bitcoin has been trading at $125,771, up 2.05% over the past 24 hours. Market capitalization rose to $2.5 trillion, but 24-hour trading volume reached $629.2 billion.
During the rally, the futures market experienced significant liquidation. A total of $3384 million worth of positions have been settled over the past 24 hours. Of this, $120.35 million consisted of long positions, and $183.49 million consisted of short positions.
The total assets liquidation for the past 24 hours were as follows:
- ETH: $7,332 million
- BTC: $59.04 million
- COAI: $21.08 million
- Left: $13.59 million
- Doge: $9.39 million
Analysts argue that the rise of Bitcoin is driven by the quest for “safe shelters.” Political dangers and budget uncertainty in the US reportedly drive investors towards digital assets.
*This is not investment advice.
