BTC rises to $85,000, DOGE claims $0.3, SHIB rises 9% hourly as liquidations pile up to $650 million

It’s hard to keep track these days of price spikes in the cryptocurrency industry. Precisely today, bitcoin managed to mark a new all-time high on several occasions, with the latest, for now, almost 85,000 minutes ago.

Altcoins are also on the move, and these fluctuations have caused substantial pain for overleveraged traders, with more than $650 million in daily liquidations.

Although BTC has added almost $20,000 in the past week, we will focus more on the developments of the last day since everything before that was covered extensively.

The major cryptocurrency challenged and briefly topped $81,000 yesterday, which was then an all-time high. After a brief correction below $79,000, it went back on the offensive today and took advantage of $82,000, as previously reported.

However, that was only the beginning of his very positive Monday. A few minutes ago, the bulls accelerated again and fueled another rally that took BTC to nearly $85,000 for the first time. This came amid MicroStrategy’s announcement of its latest massive purchase of over $2 billion in bitcoins.

Bitcoin/Price/Chart 11.11.2024. Source: TradingView

But it’s not just the biggest cryptocurrency. Dogecoin, which has been at the forefront of this Trump-induced rally, has added another 25% in value in the last 24 hours. As such, the OG meme coin has broken above $0.3 for the first time in roughly three years.

Shiba Inu, which today returned to the top 10 digital assets by market cap on CMC, has soared 9% in the last hour alone to over $0.000028.

Data from CoinGlass shows that the total value of liquidated positions has soared to $670 million at the time of writing. Bitcoin is responsible for the lion’s share, with $165 million, while DOGE is fourth.

Approximately 220,000 merchants have been destroyed in this time period. The largest liquidation occurred on OKX and was worth more than $15 million.

Liquidation heat map. Source: CoinGlass SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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