Bitcoin Surpasses $68,000

On Wednesday, October 16, the price of the leading cryptocurrency surpassed the $68,000 mark, marking a 4% increase over the past 24 hours, according to CoinGecko.

At the time of writing, Bitcoin is trading at $68,200 for the first time since July.

All digital assets in the top 10 by market capitalization have turned “green” following Bitcoin’s lead. Dogecoin (+15.2%) and Solana (+10.5%) saw the largest gains over the past day.

The total market capitalization of digital assets stands at $2.45 trillion. Bitcoin’s dominance index is 59%.

According to Coinglass, the total volume of liquidated positions over the past day exceeded $297 million. Of this, $162.6 million were long positions, while $134.7 million were short positions.

The Fear and Greed Index has risen to 73, indicating a high level of greed.

On Saturday, October 12, the price of the leading cryptocurrency tested the $63,000 level. By October 14, digital gold had surpassed $66,000, and the following day it neared the $68,000 mark.

Analysts at Bernstein have linked Bitcoin’s rally to the increased chances of Donald Trump winning the upcoming U.S. presidential election. This assessment is shared by JPMorgan.

Previously, experts identified other conditions for digital gold to rise above $80,000 by the end of the year. In addition to Trump’s victory, these include a 50 basis point rate cut by the Fed with new stimuli from China and the absence of major surprises in the industry.

In October, BlackRock CEO Larry Fink expressed confidence in the rising price of the leading cryptocurrency.