cryptopotato.com
The primary cryptocurrency stood still for a few days after this week’s massive volatility, but the bulls are back in control and pushed it to a fresh all-time high of over $70,000.
Ethereum’s native token mimicked $BTC’s performance by soaring past $4,000 and dumping just as hard minutes later.
Bitcoin’s current week is going in a highly volatile fashion. The asset skyrocketed to under $69,000 on Monday and went above that line on Tuesday to break its 2021 ATH.
However, the bears took control and pushed it south hard in the following hours. As a result, $BTC slumped to under $60,000 almost immediately after the new peak, liquidating thousands of positions worth over a billion USD.
Yet, Bitcoin quickly rebounded and returned to $67,000 by Wednesday. It spent the next couple of days there without any sudden moves.
Such a price fluctuation arrived earlier today when the asset shot up to over $70,000 for the first time ever. Nevertheless, the bears were there once again and stopped $BTC in its tracks. The cryptocurrency quickly lost all of its momentum and returned to around $68,000.
ETH also went on a roll and surged past $4,000 to see a new 2-year high. Yet, it was pushed back down, similar to $BTC, and now sits way below that level.
This enhanced volatility has resulted in a lot of pain for over-leveraged traders. The total value of liquidated positions for the past hour alone is at $100 million and more than $250 on a daily scale.