Breaking: Bitcoin Hits $75,000

Bitcoin Hits Record High, Surpassing $75,000

The price of Bitcoin, the leading cryptocurrency, reached an all-time high of $75,080 on the Bitstamp exchange on November 9th. Despite a slight decline, it currently trades above $74,000.

The surge followed a significant drop earlier this month. According to CoinGlass, over $350 million in short positions were liquidated within 24 hours. Binance, OKX, and HTX led in total liquidations. Notably, a Bitcoin short with a $75 million position was liquidated during the rally.

CryptoQuant data suggests a recovery in positive sentiment for Bitcoin in the U.S. market after a negative period. The previous high was set in March after the introduction of spot ETFs in the U.S.

Bitcoin's market capitalization now nears $1.5 trillion, making it one of the most valuable assets. Other cryptocurrencies have also experienced gains, including Solana (SOL) with a 15% increase and Dogecoin (DOGE) with a significant 27% surge.

The rise in Bitcoin has also boosted MicroStrategy (MSTR) shares, which have gained over 10% in pre-market trading.