BTC Rises To $85K, DOGE Recovers $0.3, SHIB Spikes 9% Hourly, As Liquid Stacks Up To $650M

It's hard to keep up these days with price spikes in the cryptocurrency industry. Just today, Bitcoin has managed to chart new all-time highs multiple times, with the latest, for now, reaching nearly $85,000 minutes ago.

The altcoins are also on the move and these ups and downs have caused a lot of pain for the overextended traders with more than $650 million in liquidity every day.

Although BTC increased to almost 20,000 dollars last week, everything was covered before that, so we will focus more on the developments of the previous day.

The leading cryptocurrency has been challenging and briefly crossed $81,000 yesterday, which was the all-time high. After a brief correction below $79,000, it bounced back to $82,000 earlier today, as previously reported.

However, that was a very positive Monday start. Minutes ago, the bulls got back on the gas pedal and pushed for another rally that took BTC to $85,000 for the first time. This comes as MicroStrategy announced its purchase of over $2 billion worth of Bitcoin.

But it's not just the biggest cryptocurrency. Dogecoin, which has been at the forefront of this Trump-fueled rally, has gained another 25% in value over the past 24 hours. Thus, the OG meme coin broke above $0.3 for the first time in roughly three years.

Shiba Inu, which returned to the top 10 largest digital assets on the CMC earlier today, rose 9% to over $0.000028 in the past hour alone.

According to CoinGlass data, at the time of writing these lines, the total value of liquid spaces has reached $670 million. At $165 million, the lion's share is Bitcoin, with DOGE fourth.

Approximately 220,000 merchants were destroyed during this time frame. The single largest liquidation occurred on OKX and was worth north of $15 million.