"Bitcoin's surge on May 1 pushed its market capitalization from $1.52 trillion on Wednesday to nearly $1.57 trillion. The jump triggered the liquidation of $120 million in short bets."
"Bitcoin oscillated between $77,000 and $77,500 throughout early Friday, eventually reaching an intraday peak of $78,924 around 9 a.m. EDT before reversing some gains."
"The rebound was seemingly driven by reports that Iran had submitted a fresh proposal to Washington via Pakistani mediators, although President Trump rejected the proposal."
On May 1, Bitcoin experienced a significant surge, rising over $2,000 to test the $79,000 resistance level after a 13% gain in April. The cryptocurrency peaked at $78,924 before settling below $78,300. This surge increased Bitcoin's market capitalization from $1.52 trillion to nearly $1.57 trillion. The price movement triggered $120 million in short liquidations. Analysts caution that potential shifts in Federal Reserve policy could lead to increased volatility in high-value assets, influenced by geopolitical tensions and diplomatic negotiations.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]