Bitcoin has surged to an 18-month high, leading to liquidations worth $150 million. The surge is also pushing the overall crypto market cap above $1.3 trillion.
The major spike occurred during early Asian trading hours on Wednesday. Bitcoin’s value soared over $36,000 for the first time since May 2022.
Several altcoins also witnessed a significant increase, contributing to the surge in the total market cap. The collective value of liquidated trading positions reached $150 million on a daily scale, due to the heightened activity in the crypto market.
Bitcoin’s surge underscores the volatile nature of digital currencies, with significant highs and lows often recorded within short periods. The current peak is a notable rebound from its performance in the past few months.
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