BTC price hits all-time high of $70,000

Following a period of relative stability post-recent volatility, the leading cryptocurrency has surged to a fresh all-time high exceeding $70,000, as bullish momentum takes charge once again.

Echoing Bitcoin's trajectory, Ethereum's native token experienced a similar surge, surpassing $4,000, only to plummet minutes later.

Bitcoin's current week has been marked by significant volatility. Starting below $69,000 on Monday, it breached this mark on Tuesday, surpassing its 2021 all-time high.

However, bearish pressure ensued, leading to a sharp downturn shortly after reaching the new peak, resulting in Bitcoin dropping below $60,000 and liquidating positions worth billions of USD.

Despite this, Bitcoin swiftly rebounded, settling around $67,000 by Wednesday and maintaining this level for the next few days.

Today, another spike saw Bitcoin surpass $70,000 for the first time, but bearish forces intervened once more, halting its upward momentum and causing it to retreat to approximately $68,000.

Similarly, Ethereum surged past $4,000 to reach a new two-year high but faced a similar reversal, now trading well below that threshold.

This increased volatility has inflicted considerable losses on over-leveraged traders, with liquidated positions totaling $100 million within the past hour and over $250 million on a daily basis.