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    Home»Bitcoin»Bitcoin hits new all-time excessive close to $110k amid optimism for Trump's second period
    Bitcoin hits new all-time excessive close to 0k amid optimism for Trump's second period
    Bitcoin

    Bitcoin hits new all-time excessive close to $110k amid optimism for Trump's second period

    By Crypto EditorJanuary 20, 2025No Comments2 Mins Read
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    Bitcoin reached a brand new all-time excessive forward of Donald Trump‘s second inauguration as President of america.

    Information from CryptoSlate exhibits Bitcoin climbing over 5% up to now hour, gaining almost $10,000 to hit $109,300—simply in need of the $110,000 mark. This upward momentum additionally boosted different main cryptocurrencies, together with Ethereum, XRP, and Solana, which all rose by over 3% throughout the identical interval.

    Bitcoin hits new all-time excessive close to 0k amid optimism for Trump's second period
    Bitcoin Worth All-Time Excessive (Supply: CryptoSlate)

    In the meantime, the fast value enhance led to important losses for merchants holding brief positions.

    Previously hour alone, bearish merchants confronted losses exceeding $100 million, with Bitcoin shorts accounting for greater than $60 million. Over the past 24 hours, liquidations throughout the crypto market topped $1.2 billion, with brief sellers dropping a staggering $900 million.

    Crypto Market LiquidationCrypto Market Liquidation
    Crypto Market Liquidation (Supply: Coinglass)

    Market observers identified that the rally aligns with rising optimism within the crypto group about Trump’s second time period.

    Certainly, many count on his administration to introduce insurance policies that might favor the trade. Notably, the brand new President has hinted at making america a pacesetter in crypto innovation and has absolutely embraced the rising trade, fueling optimistic sentiment amongst buyers.

    Disclaimer: Our writers’ opinions are solely their very own and don’t mirror the opinion of CryptoSlate. Not one of the data you learn on CryptoSlate needs to be taken as funding recommendation, nor does CryptoSlate endorse any challenge which may be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies needs to be thought-about a high-risk exercise. Please do your personal due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no accountability must you lose cash buying and selling cryptocurrencies.



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