BTC hits a new record high of $79,788 as ETH crosses $3.2k, could it breach $80k this weekend?
The post BTC hits a new record high of $79,788 as ETH crosses $3.2k, could it breach $80k this weekend? appeared on BitcoinEthereumNews.com.
The crypto market is witnessing a weekend pump that indicates retail investors have shared interests and participation in the digital asset industry. BTC recently surged above the $79,000 level and marked a new all-time high of $79,788. On the other hand, Ether is up 30% in the last seven days, while ADA and DOGE have recorded double-digit gains in the last seven days. According to Binance, BTC’s price has sliced through the $79k level and recorded a new all-time high of $79,788. The asset’s price has extended its seven-day gains by 15% through its 3% gain in the last 24 hours. BTC’s 24-hour trading volume sits at around 592,400 BTC, equivalent to $46.7 billion at the time of this writing. Crypto weekend pump fuels BTC’s hike to new all-time highs The recent crypto upsurge occurred during the ongoing weekend pump as retail traders joined the bandwagon. Weekend pumps are typically classified as bullish signals by analysts since they indicate increased trading activities from retail investors in the absence of most institutional investors. According to data from CoinGlass, the recent upsurge witnessed in the crypto arena has caused liquidations from 132,317 people worth $384 million. A total of $105 million was liquidated from long-position orders and $90.6 million from short-position blowouts. The data also indicates that the largest single liquidation occurred on Binance, the world’s largest crypto exchange by volume. The liquidation, valued at $13.1005 million, occurred on Binance’s listing pair BTC/USDT. Binance tops CoinGlass’ list of top centralized crypto exchanges with the largest liquidation amount. The exchange has a liquidation amount of $34.7 million. OKX follows with a liquidation amount of $21.3 million, while Bybit trails closely in third position with liquidations worth $20.7 million. HTX, BitMEX, and CoinEx exchanges follow with $15. million, $14 million, and $4.6 million in…
Filed under: News - @ November 10, 2024 10:26 am