Bitcoin's Meteoric Ascent to surpassed $71K And $73K is on the Horizon to Squeeze Short Sellers by whales Massive buying with in Next Few Minutes ($1.48 Trillion)!!
Bitcoin, the pioneering cryptocurrency, has once again made headlines by surpassing the $71,000 mark.
As of now, Bitcoin is trading at $70,947.57, reflecting a notable increase of 2.33%.
This bullish momentum is driving the price towards $73,000, potentially setting the stage to liquidate short sellers who bet against its rise.
According to CoinMarketCap data, Bitcoin's market cap has surged to $1.39 trillion, commanding a significant 53.35% market dominance.
The fully diluted market cap stands at an impressive $1.48 trillion.
With a circulating supply of 19.71 million BTC out of a maximum supply of 21 million, Bitcoin's scarcity continues to drive its value.
Bitcoin's latest rally is not just a market event; it's a testament to its enduring appeal and resilience.
This digital asset, which debuted on November 1, 2008, has seen its value grow exponentially.
From its all-time low of $0.04864654 on July 15, 2010, Bitcoin has soared to an all-time high of $73,750.0739, achieved on March 14, 2024.
The current upward trend is fuelled by various factors, including increased institutional adoption, positive regulatory developments, and growing recognition of Bitcoin as a hedge against inflation.
As Bitcoin approaches the $73,000 mark, the market anticipates a significant liquidation of short positions, potentially propelling the price even higher.
For those tracking BTC on Binance, the recent data shows an astronomical 154,911% increase since inception.
Bitcoin has offered its early adopters and long-term holders.
As always, investors are advised to proceed with caution, recognizing the inherent risks in trading highly volatile assets.
The data presented is for informational purposes only.
It is provided by CoinMarketCap and shown on an "as is" basis, without representation or warranty of any kind.
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