Bitcoin (BTC) has skyrocketed to nearly $37,000, marking its highest level since May 2022. This surge has triggered over $140 million in liquidations.
Leading cryptocurrencies such as Ether (ETH), Binance Coin (BNB), Cardano (ADA), Polygon (MATIC), and Polkadot (DOT) have also seen significant upticks.
The recent surge in Bitcoin’s price has led to millions of dollars in liquidations. Data from CoinGlass reveals that total liquidations in the past 24 hours have soared to nearly $150 million, 80% of which were short positions.
Bitcoin trades accounted for over $65 million of the total liquidations, with Ether coming in second at approximately $16 million.
Analysts and AI-powered language model ChatGPT predict that Bitcoin’s current uptrend is far from over, anticipating that its price could reach a new all-time high in the coming months.
The potential approval of a spot BTC ETF in the U.S., mass adoption, the upcoming halving, among other factors, could contribute to this price increase.
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