Bitcoin, the world’s largest cryptocurrency, has now surpassed $100,000 today after a long time, and as the rise continues, it has been trading over $102,000 at the time of writing.
BTC prices are just 6% off the new all-time high.
Meanwhile, Ethereum today has a truly impressive and surprising rally. The largest Altcoin has earned over 20% in the last 24 hours and is trading at $2,186 at the time of writing. This rise has earned ETH its biggest profit since 2021.
The reason for the increase is that the US has held more moderate consultations and signed contracts with many countries regarding tariffs. A 10% tariff agreement has been signed between the US and the UK. Moreover, the environment with China, perhaps the most tense aspect of the tariff crisis, is softer. The US administration has said tariffs applied to China could be reduced to about 50% next week.
Finally, a US statement has been decided that a positive view on the Russian-Ukraine war, Ukraine’s 30-day ceasefire, and a positive talks between Zelensky and Trump have also alleviated tensions in the geopolitical environment and sparked a cryptocurrency rally.
In addition to rising cryptocurrency markets, major liquidation was also observed. According to Coinglass data, Cryptocurrency Market has experienced a massive liquidation of $793 million over the past 24 hours. Of these, $694 million was in short positions. Below you can see the amount of liquidation for the past 24 hours.
A table showing liquidation experiences across the cryptocurrency market over the past 24 hours. Red indicates cryptocurrency where short positions are more liquidated, while green indicates liquidation of longer positions.
*This is not investment advice.
