Bitcoin Explodes to $71K, Charts New All-Time High

The bulls are back in town for Europe’s Monday morning trading session, sending Bitcoin into price discovery.

At the time of this writing, the BTC price trades at around $71,000 across multiple exchanges, charting a fresh all-time high. With this, the cryptocurrency is trading at a 3% increase for the day, adding up to its 11.3% weekly gains.

The move has liquidated around $50 million worth of leveraged positions, $44 million of which are shorts. Data from CoinGlass shows that most of the liquidations took place on OKX.

Bitcoin is not the only cryptocurrency charting a substantial increase this morning. Ethereum also tapped $4K before retracing slightly to where it’s currently trading at $3980. ETH is up 14.5% for the day.

Binance coin increased by 6.2% in the past 24 hours and is up a whopping 27.7% for the week.