Bitcoin has reached a new all-time high above $86,000 due to positive market sentiment and MicroStrategy’s announcement of its latest BTC buy. Trading at over $86,000, Bitcoin’s price has seen gains of more than 6.8% in the past 24 hours. This surge has led to turbulence in the derivatives market, with almost $700 million worth of leveraged positions wiped off.
Despite the increase in Bitcoin’s price, most of the liquidations are coming from long traders, highlighting the risks of trading with high leverage. The recent price increase is attributed to Donald Trump’s election as president and MicroStrategy’s purchase of an additional $2 billion worth of BTC.
