Bitcoin continues to rise! Bitcoin briefly broke through $74,000, Ethereum reached $2,200, and 570 million ETH were liquidated across the network.

Bitcoin (BTC) broke through the $74,000 mark today (5th), continuing to significantly boost the overall cryptocurrency market sentiment. Ethereum (ETH) followed suit, with its price briefly breaking through $2,200.

Market analysts point out that this surge was primarily driven by market optimism, including continued institutional inflows, a rebound in Bitcoin ETF trading volume, and some safe-haven funds shifting to Bitcoin amid geopolitical tensions in the Middle East. Having broken through this psychological barrier, market analysts believe Bitcoin may further test higher resistance levels. However, the cryptocurrency market remains highly volatile, and investors should still be aware of short-term profit-taking pressures, changes in global economic data, and developments in the Middle East situation.

$570 million in margin calls across the entire internet.

According to CoinGlass data , in the past 24 hours, a total of 130,179 people worldwide have been liquidated, with the total amount liquidated climbing to approximately $570 million. Among them, short sellers continued to be crushed, with liquidations amounting to $474 million.