After Bitcoin’s price broke the previous all-time high earlier today, the number one cryptocurrency by market cap seems to be continuing the bullish surge.
Bitcoin saw an impressive 9.66% rise in the past 24 hours and peaked at a little over $76,000 with $114 billion in trading volume (up 143% since yesterday). BTC’s market cap currently stands at $1.5 trillion.
Ethereum also witnessed a notable surge with the price reaching $2,700 after rising 11.36% with a $39.3 billion trading volume and a market cap of around $325 billion.
During this period $572.59 million were liquidated in the cryptocurrency market with $393.55 million being short positions and $179.14 million in longs (with $296.31 million being Bitcoin.)
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This notable bullish trend is the aftermath of the presidential election in the United States, where Donald Trump won the race by a landslide.
Additionally, analysts are expecting a 0.25 bps rate cut from the Federal Reserve tomorrow, which will add to the market optimism.
