Bitcoin (BTC) Sets a New Record High, Exceeding $71,000 – Several Liquidations Reported In The Last 24 Hours

The world’s largest cryptocurrency Bitcoin (BTC), has reached another impressive milestone after hitting a new all-time high of $71,000. 

Last week, Bitcoin (BTC) broke its all-time high record of $69,000 then went down by 10% shortly after. After a few days of volatility, Bitcoin (BTC) has impressively hit a new groundbreaking record. 

This significant surge in Bitcoin’s price resulted in a 3.87% increase in Open Interest (OI) in Bitcoin futures, resulting in to rise beyond $34 billion at press time. 

Meanwhile, $300 million worth of liquidations were reported in the last 24 hours after Bitcoin (BTC) hit a new ATH. The majority of the liquidations were long positions, amounting to $224.73 million as the market adapted to the sudden price surge. Short positions accounted for $111.49 million of liquidations.

OKX led the liquidations among exchanges, with a total of $19.95 million. Within this, $2.99 million was attributed to long positions, while $16.96 million was from short positions making up 85.03% of its overall liquidations.

Bitmex, on the other hand, liquidated a total of $8.71 entirely from short positions. While Binance recorded its liquidations amounting to $6.74 million, with $2.12 million from long positions and $4.63 million from short positions. 

At this time of writing, Bitcoin (BTC) continues to hit its current record high, now trading at $71,600.32, a 2.90% increase in the last 24 hours. BTC’s total market cap also increased by 2.90% to $1.4 trillion.