Bitcoin price nears the $40,000 level

In the early hours of Sunday, December 3, the price of the leading cryptocurrency surpassed the $39,700 mark, reaching a fresh yearly high.

At the time of writing, the price of digital gold had corrected to $39,400. Over the past 24 hours the asset rose by 1.6%, according to CoinGecko.

Most cryptocurrencies in the top 10 by market cap moved into the green zone. Over the past 24 hours Solana led gains (+3.2%).

Total cryptocurrency market capitalization rose above $1.55 trillion. Bitcoin’s dominance index stood at 53.2%.

Over the past 24 hours, positions worth $143 million were liquidated, according to Coinglass. Of these, $30.4 million were longs and $112.7 million were shorts. Meanwhile, $36.5 million in Bitcoin and $33 million in Ethereum.

In late November, Bitcoin exceeded the $38,000 mark. On 1 December, the leading cryptocurrency settled above $38,500.

According to CryptoQuant analysts, the adoption of the instrument would lead to a rise in the market capitalization of digital assets by $1 trillion. Bitcoin would then rise to $50,000–$73,000.