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Ethereum, Solana touch key levels as Bitcoin spikes

Crypto News
by
July 21, 2024 0

Bitcoin Price Surge Highlights

Bitcoin has surged above $66,000, hitting its highest level since mid-June. Ethereum and Solana have also seen significant gains, with other altcoins like BNB, Dogecoin, and Cardano following the positive trend.

Bitcoin’s Rise Amid IT Outage Chaos

Bitcoin’s price spike coincided with discussions about its potential as a strategic national reserve for the US. The surge was fueled by a major IT outage last Friday, which disrupted various global industries and highlighted Bitcoin’s resilience.

Short Liquidations in the Market

The surge in Bitcoin’s price led to the liquidation of shorts, with millions of dollars worth of bearish bets being closed. This trend indicates a shift in market sentiment and a potential bullish momentum for Bitcoin.

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