The leading cryptocurrency has continued its rapid ascent, with its price approaching the $89,000 mark, once again setting a new all-time high.
The price nearly reached $90,000 before correcting. Consolidation is occurring around the $87,000 level.
Over the past 24 hours, the asset has risen by 9.8%, according to CoinGecko. This marks the largest daily increase in history — by $8343.
Among the top 10, Dogecoin showed the largest daily increase at 44.4%. Ethereum rose by 6.4%.
The total cryptocurrency market capitalization reached a new ATH at $3.11 trillion, surpassing the peak reached in November 2021.
Bitcoin vs Silver
The market capitalization of the leading cryptocurrency reached $1.748 trillion, surpassing silver:
The corresponding figure for gold is approximately 10 times higher — $17.55 trillion.
Record Liquidations
The total volume of short positions liquidated in bitcoin derivatives over the past day exceeded $400 million.
The previous peak was reached in August at $266 million.
On November 4, the total open interest in bitcoin futures was $31.64 billion; it has now reached $36.86 billion (according to The Block), indicating a steady increase in the metric and significant market activity.
Greed, Not Fear
The cryptocurrency fear and greed index reached a level of 80, indicating FOMO among market participants.
The annual peak of the metric was recorded in early March at 90.
Earlier, analysts at brokerage firm Bernstein urged clients to add crypto assets to their investment portfolios “as soon as possible.”