en.bitcoinsistemi.com
Bitcoin ($BTC) has been gaining strong bullish momentum in the last hour, rapidly rising from the $90,000 level to above $93,000.
Market experts say the key catalyst for this sudden rally is the expectation of a Fed interest rate cut tomorrow. Investors have revived their risk appetite due to the strong possibility that the US Federal Reserve could cut interest rates by 25 basis points.
The $BTC price was trading at $93,149 at the time of the news, with a one-hour increase of 2.45% and a 24-hour increase of 3.77%. Bitcoin's market capitalization rose to $1.86 trillion.
Bitcoin's sharp rise has particularly targeted short positions on the futures side. Total liquidations in the cryptocurrency market reached $285.28 million in the last 24 hours, $208.39 million of which came from short positions. The liquidation of $133 million worth of short positions in just the last hour demonstrates the intensity of the surge.
The 24-hour liquidation distribution by asset was as follows:
- $BTC: $118.75 million
- $ETH: $69.44 million
- ZEC: $13.29 million
- LEFT: $10.54 million
Bitcoin's rapid rise has also triggered a significant recovery in the altcoin market. Ethereum ($ETH) saw a strong 4.16% increase in the last hour, reaching $3,273.99. With Bitcoin's momentum, Ethereum's market capitalization has also approached $395 billion, marking the most notable rise among altcoins.
XRP also gained 2.24% in the last hour, accompanying Bitcoin's rise.
BNB rose 2.60% in the last hour, reaching $913. Dogecoin (DOGE) gained 2.76% in the last hour, reaching $0.1480. Solana (SOL) continued its momentum, rising 4.25% in the last hour, reaching $139.43.
*This is not investment advice.