Bitcoin Regains Bullish Momentum, Surging Past $87,000

Bitcoin surged past $87,000 today, reaching a new milestone at $87,300, marking a 2.5% increase in just 24 hours.

Bitcoin soared past the $87,000 mark on Wednesday, continuing its remarkable ascent with a 2.5% surge in just 24 hours.

The world’s largest cryptocurrency reached a new milestone at $87,300, fueled by a 1.35% uptick in the total cryptocurrency market cap, which touched $2.78 trillion.

This bullish momentum triggered significant volatility, leading to total liquidations of $232.79 million within the last day, according to data from Deepcoin.

Of these, $113 million were long positions, while short positions accounted for $119.79 million. Bitcoin alone contributed $79.75 million to the liquidated positions.

The 1-day technical analysis from TradingView seems more bullish after the recent corrections - the summary and moving averages show "buy" with 12 and 10 signals, respectively, while oscillators point to "neutral" with 8.

Among altcoins, EOS emerged as the standout performer, skyrocketing 16.3% over the past 24 hours and delivering an impressive 40% weekly gain.

EOS currently trades at around $0.81, supported by a market cap of $1.26 billion and a robust 24-hour trading volume of $677 million.

However, despite the overall bullish sentiment, one coin that faced difficulties was XLM, which saw a setback after struggling to maintain the $0.28 level.

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