Traders were licking their wounds on Monday against a price hike for Bitcoin and Ethereum, with BTC mining record territory and short liquidity piling up as ETH hit a high not seen since 2021.
Bitcoin hit a new all-time high of $107,822 around 1:30pm on Monday. According to data from CoinGecko, the price of the leading cryptocurrency continued to rise today, breaking the previous record on Sunday.
The first time Bitcoin reached the $100,000 mark was a price below $104,000, and that peak reached a new high of $106,352 by the end of Sunday. That mark has now passed.
Meanwhile, Ethereum rose to $4,081 on Monday, a mark just before 2 p.m. It is the highest price recorded by CoinGecko since December 2021, marking the highest level since March and early December this year.
At the time of writing, Bitcoin's rally has cooled slightly and is currently valued at $106,202. It's up nearly 3% on the day, with the weekly climb sitting at 8.5%.
As of this writing it is down slightly to $4,041, with ETH still up over 3% on the day. However, Ethereum's price is down 16 percent from its $4,878 high set back in November 2021.
According to CoinGlass, Bitcoin's continued gains are plaguing holders of short positions, with more than $133 million worth of contracts being rejected. During the same period, liquid Ethereum shorts totaled nearly $68 million.
Overall, bitcoin liquidity will raise $177 million from the previous day's $489 million worth of liquidity tied to crypto assets, while ethereum liquidity will add up to $97 million, including long positions.
Daily Debrief Newspaper
Start every day with top news stories, plus original features, podcasts, videos and more.
