Bitcoin (BTC) reached unprecedented heights, going to $ 118,856 on Friday, marking a new record for the main cryptocurrency. This wave prepared the field for a week to come, with BTC Bulls aimed at the milestone of $ 120,000. The price action has since stabilized, the BTC merchanting about $ 118,139 in the last 24 hours.
The recent Bitcoin rally has led to significant liquidations, with more than a billion dollars in wardrobe and wiped off positions during the last day. This wave of liquidation affected more than 279,000 traders while the BTC reached its last summit of all time. The largest liquidation, valued at around $ 88 million, occurred on a major exchange. Analysts attribute this decision to a gradual increase trend that has been built for some time, with the last wave motivated by a combination of factors, including FNB Record entries and a Congress Committee designating the coming week as “cryptography week”. In addition, there are indications that China could reconsider its position on digital assets, further fueling the bullish feeling.
This week is particularly important for cryptographic industry, as the House of Representatives of the United States should discuss three critical cryptography invoices. These bills – The Act respecting engineering, the law on clarity and the anti -CBDC law on the state of surveillance – like to provide an essential regulatory clarity. The law on engineering will allow private companies to issue stablescoins, while the law on the clarity of the digital asset market will establish a regulatory framework for cryptography. The third bill, the CBDC anti-surveillance State Act, aims to prevent the federal reserve from issuing a digital currency of the central bank. These discussions arise at a time when the links between Washington and the cryptographic industry show signs of improvement, which could encourage more companies to adopt bitcoin in their cash strategies.
Investors are positioned before next week’s legislative discussions, analysts predicting that capital has previously set out due to regulatory uncertainty in the market. Even if the final adoption of these bills is delayed, the optics of legislative engagement could increase the market above. This optimism is reflected in the wider market of cryptography, where altcoins like Ethereum (ETH), Ripple (XRP) and Solana (soil) have also experienced significant price of price BTC reaches new peaks. Although Bitcoin domination remains stable at around 64%, the influx of fresh capital in the wider market helps significant altcoins to obtain market share.
The action of bitcoin prices in last week was volatile, starting with a drop of 1.09% on Monday and 1.33% on Tuesday, settling at $ 105,740. The price recovered on Wednesday, up almost 3% to recover $ 108,000 and settle at $ 108,845. Buyers maintained control Thursday, pushing BTC to an intra -day summit of $ 110,583 before settling at $ 109,637, finally recording an increase of 0.73%. Friday, the price lost its momentum, lowering 1.41% and settling at $ 108,097. However, the price recovered during the weekend, recording a marginal increase on Saturday and increasing by almost 1% on Sunday to cross $ 109,000 and settle at $ 109,231.
The current week started with a slight drop from almost 1% to $ 108,273 on Monday. The price recovered Tuesday, up 0.62% to $ 108,942. Buyers kept control on Wednesday while the BTC increased by more than 2% to cross $ 111,000 and settle at $ 111,255. The bullish feeling intensified on Thursday, the price gathering from 3.51% to $ 115,159, fixing a new summit of all time. BTC exceeded $ 118,000 on Friday, fixing another summit of all time before settling at $ 116,885. The current session slightly sees the BTC, buyers looking at the level of $ 120,000 while the markets go around a crucial week.
