Bitcoin Price Continues Strong Surge, Maintaining Above $100,000 for 13 Consecutive Days and Less Than 3% from Historical Peak.
Bitcoin continues to maintain an impressive upward momentum, fluctuating around $106,831, after touching an intraday high of $107,340. As of 8 PM Eastern Time, the world's largest digital currency remains steady around the $107,000 range, increasing 1.5% against the US dollar, and just 2.36% away from its All-Time-High of $109,356.
Currently, Bitcoin's market capital reaches approximately $2.123 trillion, with a trading volume of $36.27 billion in the past 24 hours. The price trend has shown a clear upward signal since the positive weekly closing session last Sunday.
Large Liquidations and High Leverage Strategies
Strong price fluctuations have led to a wave of liquidations in the market, with a total value of $247.10 million in long and short positions being wiped out. Notably, short positions on Bitcoin alone suffered losses of $47 million. According to Coinglass data, the largest daily liquidation occurred on gate.io, with one trader experiencing a loss of $1.62 million.
While many short investors are paying a high price, some traders are still aggressive with high leverage strategies. A prime example is trader James Wynn on the decentralized perpetual contract trading platform Hyperliquid, who expanded his Bitcoin long position with leverage up to 40 times. Wynn currently has a margin of 54,736,564 USDC on Hyperliquid, with a nominal transaction value of around $828 million.
As of Tuesday's closing session, Bitcoin has maintained its six-digit price for 13 consecutive days – a notable achievement in the currency's history. If this trend continues for another 4 days, Bitcoin will break the record for the longest streak of closing above $100,000.
