In the early hours of Saturday, August 24, the price of the leading cryptocurrency surpassed $64,000. At one point, digital gold approached $65,000 but did not breach the psychological threshold.
At the time of writing, Bitcoin is trading at $64,200, having gained 5.2% over the past 24 hours.
The second-largest cryptocurrency by market capitalization surpassed $2700 for the first time since August 14, with a 24-hour increase of 3.3%.
Most digital assets in the top 10 by market capitalization turned “green” following Bitcoin’s lead. Solana saw the largest gain over 24 hours, up 6.5%.
The total market capitalization of digital assets stands at $2.36 trillion.
According to Coinglass, the total volume of liquidated positions over the past day amounted to $174 million, with $133 million in shorts.
The Fear and Greed Index increased to 56, indicating a rise in bullish sentiment.
Analysts previously pointed to conditions for a renewed bull market. They noted that the wave of long position liquidations has subsided, suggesting Bitcoin will approach its ATH after the U.S. elections due to an influx of liquidity.
Former BitMEX CEO Arthur Hayes predicted that the leading cryptocurrency could reach $100,000 by the end of the year.