US stocks closed slightly lower yesterday, as the market awaited tonight's non-farm payroll data. The highlight of the day was the breakthrough of Bit above the $100,000 mark, with BTC reaching a historic high of $104,088, but plunging to $90,500 this morning, before rebounding to around $96K. The total liquidation volume across the network exceeded $1.09 billion.
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ToggleTesla is just one step away from its all-time high
The US stock market was relatively flat yesterday, but the standout performer was Tesla, Elon Musk's company, which rose over 3% to close at $369.49, just one step away from its all-time high of $378.8.
Bank of America raised its price target for Tesla to $400 yesterday. Meanwhile, Trump yesterday nominated billionaire and Shift4 CEO Jared Isaacman to be the next NASA Administrator. Isaacman has led two private SpaceX space flights and has a close relationship with Musk.
Bit broke the $100,000 mark yesterday, plunged to $90K this morning
Buoyed by the news that Trump nominated crypto-friendly Paul Atkins as SEC chairman, Bit officially broke through the $100,000 mark yesterday. Michael Saylor, founder of MicroStrategy, the world's largest publicly traded Bit holder, said: "The $100K party is coming." Even Trump congratulated Bit reaching $100,000 on his social media platform, saying "MAGA together!"
But this morning, Bit suddenly plunged to $90,500, before rebounding to around $96K. According to Coinglass data, Bit had $561 million in 24-hour liquidations, and the total network liquidation volume exceeded $1.09 billion. This shows the price volatility, and investors need to be aware of their own risk, to avoid "no change in price, but position gone."
Performance of the top 10 cryptocurrencies by market cap
The top 10 cryptocurrencies by market cap did not see too much movement in the past 24 hours, but Ethereum had $109 million in liquidations, and XRP had $55.32 million, with volatile short-term price movements. Investors should pay close attention to risk management.
