By CryptoSlate | Created at 2024-12-16 09:10:56 | Updated at 2024-12-22 01:28:37
5 days ago
Bitcoin reaches new $106k all-time high causing $313 million in liquidations Oluwapelumi Adejumo · 11 seconds ago
Bitcoin’s price momentum continues to shatter records, with the top crypto reaching a new all-time high.
On Dec. 16, data from CryptoSlate showed that Bitcoin peaked at $106,488 during Asian trading hours before settling at $104,771 at the time of reporting.
Bitcoin Price (Source: Tradingview)This milestone extends the flagship digital asset’s impressive rally, which gained momentum following Donald Trump’s election victory in November. Over the past month, Bitcoin’s value crossed the $100,000 mark for the first time after rising by more than 15% during the reporting period.
When priced in euros, Bitcoin also achieved a new all-time high, hitting €101,212 before retracing slightly to €99,610 at press time, according to CoinMarketCap. This is the first time the top asset’s value has crossed the €100,000 mark.
Bitcoin Price in Euros (Source: TradingView)Crypto liquidation
The sharp price increase has led to substantial liquidations across the crypto market. Coinglass reports that traders speculating on Bitcoin lost $119 million in the past 24 hours, most of these losses coming from bearish positions.
Crypto Market Liquidation (Source: CoinGlass)Investors’ total losses over the same period soared to $312 million when factoring in other cryptocurrencies. Short traders bore the brunt, accounting for nearly $200 million of the liquidations, highlighting the volatile nature of the crypto market during this bullish phase.
