HOT MOMENTS: Bitcoin (BTC) Price Surpassed $102,000, Ethereum (ETH) Soared! Here’s the Reason for the Rise, Liquidations and Latest Situation!

The world’s largest cryptocurrency, Bitcoin, surpassed $ 100,000 today after a long time, and with the continuation of the rise, it is traded above $ 102,000 at the time of writing this article.

The BTC price is only 6% away from a new all-time high.

Ethereum, on the other hand, has had a truly impressive and surprising rally today. The largest altcoin has gained over 20% in the last 24 hours and is trading at $2,186 at the time of writing. With this rise, ETH has made its biggest gain since 2021.

The reason for the increases is that the US is holding more moderate talks and signing agreements with many countries regarding customs duties. A 10% customs duty agreement was signed between the US and the UK. In addition, the environment with China, which is perhaps the most tense side of the customs duty crisis, has softened. The US administration has stated that the customs duties applied to China could be reduced to around 50% next week.

Finally, the US’s statement that it is determined to end the Russia-Ukraine war, Ukraine’s positive view of a 30-day ceasefire, and the positive talks between Zelenskiy and Trump also helped reduce tensions in the geopolitical environment and sparked a rally in cryptocurrencies.

Along with the rise in the cryptocurrency market, major liquidations were also observed. According to Coinglass data, the cryptocurrency market experienced a massive liquidation of $793 million in the last 24 hours. $694 million of these were in short positions. Below you can see the amount of liquidations in the last 24 hours.

Kripto para piyasasının tamamında son 24 saatte yaşanan likidasyonları gösteren tablo. Kırmızı, short pozisyonların daha fazla likidasyona uğradığı kripto paraları gösterirken yeşil ise long pozisyonların daha fazla olduğu likidasyonları ifade ediyor.

*This is not investment advice.

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