Bitcoin Nears $90,000—How High Can The Apex Crypto Go?
Bitcoin (CRYPTO: BTC) briefly touched $89,864 in early European trading hours, marking a notable surge that saw the cryptocurrency rise 6% in the past 24 hours before stabilizing around $87,600.
What Happened: Speaking with Benzinga, experts say that minimal sell pressure and robust demand could drive the price even higher and that the rally reflects Bitcoin’s growing momentum as it closes in on the $90,000 milestone.
Ethereum (CRYPTO: ETH) also surged, reaching a peak of $3,424 before settling at $3,300, up 3% in the past day.
The rally in Bitcoin’s price also brought with it a wave of volatility that affected both long and short traders.
According to data from CoinGlass, the crypto surge came with significant liquidations, totaling $975.53 million in the past 24 hours alone.
The liquidation breakdown shows that long positions accounted for $513.40 million, while short positions saw $462.12 million in losses.
In a note to Benzinga, Bitfinex analysts noted that despite Bitcoin’s new highs, the volume of profit-taking remains relatively low, with fresh demand helping …
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