Bitcoin reaches new $106k all-time high causing $313 million in liquidations

Bitcoin’s price momentum continues to shatter records, with the top crypto reaching a new all-time high.

On Dec. 16, data from CryptoSlate showed that Bitcoin peaked at $106,488 during Asian trading hours before settling at $104,771 at the time of reporting.

This milestone extends the flagship digital asset’s impressive rally, which gained momentum following Donald Trump’s election victory in November. Over the past month, Bitcoin’s value crossed the $100,000 mark for the first time after rising by more than 15% during the reporting period.

When priced in euros, Bitcoin also achieved a new all-time high, hitting €101,212 before retracing slightly to €99,610 at press time, according to CoinMarketCap. This is the first time the top asset’s value has crossed the €100,000 mark.

Crypto liquidation

The sharp price increase has led to substantial liquidations across the crypto market. Coinglass reports that traders speculating on Bitcoin lost $119 million in the past 24 hours, most of these losses coming from bearish positions.

Investors’ total losses over the same period soared to $312 million when factoring in other cryptocurrencies. Short traders bore the brunt, accounting for nearly $200 million of the liquidations, highlighting the volatile nature of the crypto market during this bullish phase.

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