Bitcoin Surpasses $45,000 Mark: How Far Will the Rally Go?
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Feb 9, 2024, 4:50:14 AMFeb 9
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Bitcoin Surpasses $45,000 Mark: How Far Will the Rally Go?
Cryptocurrency News – Bitcoin surged to its highest level in the past four weeks, reaching $45,522 per unit as of Thursday, following the launch of spot bitcoin exchange-traded funds (ETFs).
This rise marked a surpassing of its previous peak of $49,048 on January 11, 2024. Particularly noteworthy was the ascent above $45,000 on Thursday, representing an increase of over 4% in a single day.
This surge came as Bitcoin broke out of its consolidation phase experienced over the last two weeks.
The increase in Bitcoin's value is part of an upward trend following its recent dip to $38,505. Notably, within the last 16 days, Bitcoin has gained over 16% against the US dollar.
Factors contributing to this surge include the liquidation of short positions totaling $50.47 million within the last 24 hours. However, it's worth noting that Bitcoin's current value is 34.7% lower than its all-time high of $69,044, indicating potential room for further growth.
Additionally, these fluctuations in price reflect the overall volatility of the cryptocurrency market, signaling a need for caution among investors.
<a href="https://parofix.com/forums/crypto-news.442/">crypto news</a>
<a href="https://parofix.com/forums/crypto-news.442/" target="_blank">crypto news</a>
<a href="https://parofix.com/threads/bitcoin-surpasses-45-000-mark-how-far-will-the-rally-go.19289/" target="_blank">Bitcoin Surpasses $45,000 Mark: How Far Will the Rally Go?</a>
Cryptocurrency News – Bitcoin surged to its highest level in the past four weeks, reaching $45,522 per unit as of Thursday, following the launch of spot bitcoin exchange-traded funds (ETFs).
This rise marked a surpassing of its previous peak of $49,048 on January 11, 2024. Particularly noteworthy was the ascent above $45,000 on Thursday, representing an increase of over 4% in a single day.
This surge came as Bitcoin broke out of its consolidation phase experienced over the last two weeks.
The increase in Bitcoin's value is part of an upward trend following its recent dip to $38,505. Notably, within the last 16 days, Bitcoin has gained over 16% against the US dollar.
Factors contributing to this surge include the liquidation of short positions totaling $50.47 million within the last 24 hours. However, it's worth noting that Bitcoin's current value is 34.7% lower than its all-time high of $69,044, indicating potential room for further growth.
Additionally, these fluctuations in price reflect the overall volatility of the cryptocurrency market, signaling a need for caution among investors.
<a href="https://parofix.com/forums/crypto-news.442/">crypto news</a>
<a href="https://parofix.com/forums/crypto-news.442/" target="_blank">crypto news</a>
<a href="https://parofix.com/threads/bitcoin-surpasses-45-000-mark-how-far-will-the-rally-go.19289/" target="_blank">Bitcoin Surpasses $45,000 Mark: How Far Will the Rally Go?</a>
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