Bitcoin Breaks Through All-Time High of $79,000, Wiping Out Short Sellers!
Bitcoin Breaks Through All-Time High of $79,000, Wiping Out Short Sellers!On November 10th, Bitcoin's price surged past the $79,000 threshold, setting a new all-time high. As of 1:25 PM Beijing time, Bitcoin was trading at $79,415
Bitcoin Breaks Through All-Time High of $79,000, Wiping Out Short Sellers!
On November 10th, Bitcoin's price surged past the $79,000 threshold, setting a new all-time high. As of 1:25 PM Beijing time, Bitcoin was trading at $79,415.8 per coin, representing a 4% gain in 24 hours. Other cryptocurrencies also saw significant gains, with Ethereum breaking through $3200, its highest point since August; SOL coin rose 3.69% in the past 24 hours; and Dogecoin surged by 13.82% in the same period.
This recent cryptocurrency boom is closely linked to Trump's victory in the US presidential election. During his campaign, Trump repeatedly expressed positive views towards cryptocurrencies, pledging to make the US "the global cryptocurrency capital." The market generally believes that Trump's win will drive positive changes in US cryptocurrency regulation, creating a favorable environment for the industry's growth.
However, this surge has resulted in massive liquidations for short sellers in the cryptocurrency market. Data from CoinGlass reveals that over 135,000 traders were liquidated in the past 24 hours, with total losses amounting to approximately $397 million.
Bitcoin's record-breaking high has captured significant market attention and reignited enthusiasm for cryptocurrencies. Nevertheless, it's crucial to remember that the cryptocurrency market is highly volatile. Investors should proceed with caution, conduct thorough research, and implement robust risk management strategies.
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