Bitcoin Nears $100K: Massive Liquidations Shake Crypto Market

Crypto Liquidations Surge as Bitcoin Nears $100,000

The cryptocurrency market has witnessed a massive liquidation event totaling over $450 million in the past 24 hours. This comes as Bitcoin's price continues its upward trajectory towards the much-anticipated $100,000 mark. According to U.Today, this surge in liquidations primarily affected short traders who lost approximately $91.85 million compared to long traders' losses of about $26.11 million. Ethereum followed suit with significant liquidations amounting to $66.31 million due to milder price movements.

XRP and Altcoins Delay Bitcoin’s Breakout

In recent developments reported by FXStreet, XRP experienced a notable gain of 10%, alongside rallies from Cardano (ADA) and Dogecoin (DOGE), which have collectively delayed Bitcoin's breakthrough beyond the critical $100K threshold. The global crypto market capitalization increased by an impressive $230 billion on Friday alone, driven partly by rumors surrounding SEC Chair Gary Gensler’s potential resignation.

Bitcoin Price Explosion: Implications for Crypto Future

PCMag UK explores what Bitcoin's current price explosion means for the future of cryptocurrencies leading up to 2025. With prices nearing unprecedented highs following Donald Trump’s re-election victory, experts suggest that favorable regulatory changes could further bolster confidence among investors despite inherent market volatility.

Gold Joins Crypto Rally Amidst Market Optimism

A report from Kitco NEWS highlights how both gold and cryptocurrencies are experiencing simultaneous surges amidst growing investor optimism across markets worldwide—Bitcoin reaching nearly USD$99k while gold posts one of its strongest weeks within this year so far!

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