Bitcoin surged to a new all-time high of $110,000 on Thursday, coinciding with $454 million (₱25.2 billion) in crypto liquidations over the past 24 hours. The milestone followed the cryptocurrency’s recent low of $76,320 on April 8.
Key details
- Bitcoin peaked at $110,000 early Thursday morning.
- Total crypto liquidations reached $454.03 million in 24 hours.
- 120,636 traders were liquidated, with the largest single order valued at $5.04 million on Binance.
- Liquidations were heavily skewed toward short positions, comprising 58% of the total.
The previous record of $109,358 occurred in January during the U.S. presidential inauguration. Digital assets have moved independently from equities as concerns about global trade policies affected broader markets.
Market data and analysis
- Bitcoin crossed the $100,000 mark again on May 8, its first return to six figures since Feb. 4.
- Analysts attributed the movement to recent geopolitical developments, legislative changes, and macroeconomic indicators.
- Neutral funding rates and increased activity among large holders were reported.
Short-term volatility remains a factor. Analysts indicated that market responses to geopolitical or regulatory updates could impact price direction.
This article is published on BitPinas: Bitcoin Hits $110K Milestone as $454M in Liquidations Shake Markets
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