Bitcoin Reaches All-Time High at $71,000

Bitcoin surges to fresh record highs exceeding $71,000, registering a rapid 3% gain within the first hour of Europe's Monday trading.

Azcnews (3)

The bullish camp made a comeback in the Monday morning trading session in Europe, propelling Bitcoin into a new price discovery phase. At the time of writing, BTC is hovering around $71,000 on multiple exchanges, establishing an all-time high. On that day, the cryptocurrency experienced a 3% increase, coupled with a weekly surge of 11.3%.

This momentum triggered the liquidation of leveraged positions amounting to approximately $50 million, with $44 million attributed to short selling. Data from CoinGlass indicates that the majority of the liquidation activities took place on OKX.

This significant milestone occurs as the cryptocurrency market continues to attract widespread attention and substantial investments from both retail and institutional investors, particularly following the approval of a series of Bitcoin ETFs in January. Before reaching this new peak, Bitcoin recorded its highest weekly candle close at $69,062 on Bitstamp. Meanwhile, the second-largest cryptocurrency, Ethereum, recently surpassed the $4,000 threshold.

Btcusdt Chart
BTCUSDT Chart

Data from CoinGlass reveals that, amid recent price fluctuations, the market has witnessed a significant liquidation event, reaching a total value of $336.22 million in just the past 24 hours. The majority of this liquidation stems from unwinding long positions, totaling $224.73 million. Meanwhile, short positions make up the remaining portion, with a total value of $111.49 million.

In a short time frame, the total liquidation value in the market surged to $39.68 million, indicating high volatility in the cryptocurrency market throughout the day. Short positions played a substantial role in this figure, contributing a total value of $37.65 million, while long positions amounted to only $2.03 million.

Related: Bitcoin to Continue Surging as Supply Nears Depletion

Over the past four hours, OKX has led the exchanges in terms of liquidation, with a total value reaching $19.95 million. Within this total, $2.99 million belongs to long positions, while $16.96 million is attributed to short positions, constituting 85.03% of the overall liquidation. Following closely, Bitmex recorded a total liquidation value of $8.71 million, entirely from short positions. Lastly, Binance observed a total liquidation value of $6.74 million, comprising $2.12 million from long positions and $4.63 million from short positions.

(6 votes)

4.5/5

(6 votes)
  1. Avatar of
    Anonymous

    What a surprise bullish

  2. Avatar of MD.SABBIR HOSSAIN
    MD.SABBIR HOSSAIN

    you are right

  3. Avatar of
    Anonymous

    Nice project

Comments are closed.

Latest

Whales Withdraw Massive Link Holdings, Is A Major Price Surge Coming

News | Altcoin | Editor Choice

Whales Withdraw Massive LINK Holdings, Is a Major Price Surge Coming?

Chainlink (LINK) is entering a decisive phase as a series of on-chain and derivatives data point to growing buying pressure, setting the stage for a potential strong breakout in the days ahead.

Trump Family’s Bitcoin Firm Soars 10% After Major Btc Purchase

News | Bitcoin | Editor Choice

Trump Family’s Bitcoin Firm Soars 10% After Major BTC Purchase

American Bitcoin, a cryptocurrency mining firm founded by the Trump family, has sparked investor excitement after its stock jumped 10% following the purchase of over 1,400 Bitcoin, raising its total holdings to nearly $4.5 million.

X402 Token Surpasses $800 Million Market Cap After Launch On Bnb Chain

News | Altcoin | Editor Choice

x402 Token Surpasses $800 Million Market Cap After Launch on BNB Chain

Just one day after launching its new version on BNB Chain, the x402 ecosystem stunned the market as its market capitalization soared past $800 million, marking a remarkable milestone for the web-based payment protocol developed by Coinbase.

4 U.s. Economic Events Set To Strongly Impact The Crypto Market This Week

News | Editor Choice | Policy & Regulations

4 U.S. Economic Events Set to Strongly Impact the Crypto Market This Week

This week, global investors are holding their breath as a series of major U.S. economic events approach — developments that could determine the direction of financial markets and trigger sharp volatility in Bitcoin and other cryptocurrencies.

Ethereum Surges Again As Supply Becomes Increasingly Scarce

News | Altcoin | Editor Choice

Ethereum Surges Again as Supply Becomes Increasingly Scarce

Ethereum is entering a phase of supply scarcity as hundreds of thousands of ETH are withdrawn from Binance, fueling expectations of a powerful price breakout in the near future.

Screenshot 2025 10 20 091338