Bitcoin\u2019s price keeps surging today, reaching a new all-time high above $86,000. The most recent surge seems to be propelled by the announcement of MicroStrategy\u2019s latest BTC buy, among overall positive market sentiment.<\/p>\n
BTC is surging today, charting gains of more than 6.8% in the past 24 hours and is closing in on 30% for the week.<\/p>\n
At the time of this writing, it is trading at above $86,000, charting a brand new ATH at $86,626.<\/p>\n
<\/a>Source: TradingView<\/p>\n This has also led to considerable turbulence in the derivatives market, where almost $700 million worth of leveraged positions were wiped off.<\/p>\n Interestingly enough, despite the fact that BTC is ripping, most of the liquidations are coming from long traders.<\/p>\n <\/a>Source: CoinGlass<\/p>\n This is incredibly telling of the dangers of trading with high leverage. Even during up-only markets like the current one, excessively high leverage can lead to quick liquidations because of the tremendous volatility of the prices.<\/p>\n Perhaps the most obvious reason for the broader crypto rally is Donald Trump\u2019s election as the 47th president of the United States. He\u2019s made a number of very important promises during his campaign and the onus is now on him to make good on them.<\/p>\n The more specific reason for Bitcoin\u2019s rally in the last 48 hours, however, is likely the fact that MicroStrategy bought<\/a> another $2 billion worth of BTC.<\/p>\n That\u2019s right, the firm bought 27,200 BTC at an average price of $74,463. Funnily enough, the company is already up by more than $300 million on its latest investment alone.<\/p>\n The post Bitcoin Skyrockets Above $86,000, Why is BTC Up Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s price keeps surging today, reaching a new all-time high above $86,000. The most recent surge seems to be propelled by the announcement of MicroStrategy\u2019s latest BTC buy, among overall positive market sentiment. Bitcoin Price Soars Above $86,000 BTC is surging today, charting gains of more than 6.8% in the past 24 hours and is […]<\/p>\n","protected":false},"author":0,"featured_media":19653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19652"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19652"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19653"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why is the BTC Price Up Today?<\/h2>\n
![<\/a>Source: TradingView<\/p>\nThis has also led to considerable turbulence in the derivatives market, where almost $700 million worth of leveraged positions were wiped off.<\/p>\nInterestingly enough, despite the fact that BTC is ripping, most of the liquidations are coming from long traders.<\/p>\n<\/a>Source: CoinGlass<\/p>\nThis is incredibly telling of the dangers of trading with high leverage. Even during up-only markets like the current one, excessively high leverage can lead to quick liquidations because of the tremendous volatility of the prices.<\/p>\nWhy is the BTC Price Up Today?<\/h2>\nPerhaps the most obvious reason for the broader crypto rally is Donald Trump\u2019s election as the 47th president of the United States. He\u2019s made a number of very important promises during his campaign and the onus is now on him to make good on them.<\/p>\nThe more specific reason for Bitcoin\u2019s rally in the last 48 hours, however, is likely the fact that MicroStrategy bought<\/a> another $2 billion worth of BTC.<\/p>\nThat\u2019s right, the firm bought 27,200 BTC at an average price of $74,463. Funnily enough, the company is already up by more than $300 million on its latest investment alone.<\/p>\nThe post Bitcoin Skyrockets Above $86,000, Why is BTC Up Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s price keeps surging today, reaching a new all-time high above $86,000. The most recent surge seems to be propelled by the announcement of MicroStrategy\u2019s latest BTC buy, among overall positive market sentiment. Bitcoin Price Soars Above $86,000 BTC is surging today, charting gains of more than 6.8% in the past 24 hours and is […]<\/p>\n","protected":false},"author":0,"featured_media":19653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19652"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19652"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19653"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-11_21-08-57.png\"){kind=link}
![<\/a>Source: CoinGlass<\/p>\nThis is incredibly telling of the dangers of trading with high leverage. Even during up-only markets like the current one, excessively high leverage can lead to quick liquidations because of the tremendous volatility of the prices.<\/p>\nWhy is the BTC Price Up Today?<\/h2>\nPerhaps the most obvious reason for the broader crypto rally is Donald Trump\u2019s election as the 47th president of the United States. He\u2019s made a number of very important promises during his campaign and the onus is now on him to make good on them.<\/p>\nThe more specific reason for Bitcoin\u2019s rally in the last 48 hours, however, is likely the fact that MicroStrategy bought<\/a> another $2 billion worth of BTC.<\/p>\nThat\u2019s right, the firm bought 27,200 BTC at an average price of $74,463. Funnily enough, the company is already up by more than $300 million on its latest investment alone.<\/p>\nThe post Bitcoin Skyrockets Above $86,000, Why is BTC Up Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s price keeps surging today, reaching a new all-time high above $86,000. The most recent surge seems to be propelled by the announcement of MicroStrategy\u2019s latest BTC buy, among overall positive market sentiment. Bitcoin Price Soars Above $86,000 BTC is surging today, charting gains of more than 6.8% in the past 24 hours and is […]<\/p>\n","protected":false},"author":0,"featured_media":19653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19652"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19652"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19653"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-11-at-21.01.17.png\"){kind=link}