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As the cryptocurrency market continues to rise, it has experienced significant fluctuations, particularly with Bitcoin (BTC) and Ethereum (ETH).
Bitcoin 64,000 Dollars!
Bitcoin (BTC) managed to rise to the 64,000 dollar level for the first time since 2021, when it hit its all-time high (ATH) of $69,000, at around 20:00 on February 28, 2024.
Ethereum (ETH), meanwhile, managed to reach 3,480 dollars for the first time since 2022, keeping pace with Bitcoin.
In the cryptocurrency market, the upward trend that began with the approval process of spot Bitcoin ETFs continues, with large positions being liquidated during sudden pullbacks.
140 Million Dollar Position Liquidated in Bitcoin!
As the cryptocurrency market continues to rise, long positions opened on BTC are being liquidated with sudden shakeout movements.
Following BTC’s reach to the 64,000-dollar level, approximately 9 percent pullback occurred within just 15 minutes, dropping to 58,000 dollars and liquidating 140 million dollars of long positions.
Step by Step to ATH Level
There’s only 9,000 dollars left to reach the all-time high (ATH) of 69,000 dollars, seen in BTC’s price in 2021.
As we approach the end of February, Bitcoin managed to rise from $50,000 levels to $64,000 levels in the last week with a rapid increase of approximately 25 percent. With this rapid rise in price, it can be seen that it’s getting closer to the ATH level step by step.