Sudden Recovery in Bitcoin – We Saw Above $64,000: Here’s Why and Latest Data

According to the latest developments, Bitcoin (BTC) made a serious attack in the last hours and rose above $ 64,000 after a long period of time.

The increase rate was approximately 1.5% in the last hour, while an impressive 6.5% was recorded in the last 24 hours.

The rise in Bitcoin prices is thought to have been triggered by FED Chairman Jerome Powell’s extremely dovish speech today. On the other hand, US independent presidential candidate Robert F. Kennedy Jr’s announcement that he would support Trump was welcomed positively by cryptocurrencies.

At the time of writing, BTC is trading at $64,497.

According to the data, the high volatility experienced in the BTC price has also triggered a massive liquidation wave in the market. The data shows that $154 million worth of liquidation occurred in the total cryptocurrency market in the last 24 hours. $120 million of these were recorded in short positions.

On the altcoin side, similar increases in value to the rise experienced in Bitcoin were observed. The world's largest altcoin, Ethereum, has increased by 5.65% in the last 24 hours and is approaching the $ 2,800 barrier.

The altcoins that gained the most value among the top 100 cryptocurrencies were POPCAT, 1000SATS and SUI, respectively.

On the other hand, none of the top 100 cryptocurrencies were in the red zone in the last 24 hours.

*This is not investment advice.