• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Bitcoin crosses $24.7K and triggers increased market activity

by Reshab Agarwal
March 14, 2023
in News
Reading Time: 2 mins read
0
Bitcoin

Credits: CNA

TwitterWhatsappLinkedin

The world’s largest cryptocurrency, Bitcoin, crosses $24.7K on Monday, reaching its highest point in two months. The surge came after a steady rise in Bitcoin’s price over the past week. However, the sudden jump in price also saw a wave of liquidations across the market.

You might also like

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

Renewed interest in Bitcoin as a hedge against inflation and geopolitical risks

Liquidations occur when exchanges automatically close out leveraged positions to prevent further losses. When the price of Bitcoin rises too fast, traders who borrowed money to buy it find themselves in a situation where they need to put up more collateral to maintain their positions. If they can’t do so, the exchanges will automatically liquidate their positions, selling off their Bitcoin holdings to cover their losses. The liquidations that occurred on Monday were significant, with over $1.6 billion worth of Bitcoin futures contracts being liquidated across various exchanges. This was the highest amount of liquidations seen in the cryptocurrency market in two months.

Liquidations are a sign of the growing maturity of the cryptocurrency market.

The sudden surge in Bitcoin’s price is likely due to a combination of factors, including the recent increase in institutional adoption of Bitcoin and the ongoing macroeconomic uncertainty caused by the COVID-19 pandemic. In recent months, several large corporations, including Tesla, MicroStrategy, and Square, have invested heavily in Bitcoin, signalling their confidence in the long-term prospects of the cryptocurrency. The ongoing global economic uncertainty has also contributed to Bitcoin’s recent price rise. As governments worldwide continue to roll out stimulus packages to prop up their economies, investors are increasingly turning to Bitcoin as a hedge against inflation and currency devaluation.

Increased regulatory scrutiny could potentially limit the growth of the market.

While the sudden jump in Bitcoin’s price may be exciting for investors after Bitcoin crosses $24.7k, it’s important to remember that the cryptocurrency remains highly volatile. Its price can swing dramatically in a short period, as evidenced by the liquidations that occurred on Monday. As always, investors should approach the cryptocurrency market cautiously, doing their own research and taking a long-term view of their investments.


Overall, Bitcoin crossing $24.7K is a positive development for the cryptocurrency market, signalling growing institutional interest and continued demand from investors seeking a safe-haven asset in uncertain times. However, investors must remain vigilant and carefully manage their risk in this highly volatile market.

Also Read: Binance CEO denies rumors about interest in acquiring CoinDesk.

Tags: #pricebitcoin
Tweet54SendShare15
Previous Post

Six Major U.S. Banks Under Review as Moody’s Downgrades Signature Bank to Junk

Next Post

SVB’s Collapse Sparks Caution from Fed on Rate Hikes

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

by Anochie Esther
July 10, 2025
0
NRIs

US President Donald Trump on Wednesday, July 9, 2025, announced a fresh wave of tariff demand letters, signaling a renewed and assertive push in his administration's trade policy....

Read more

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

by Anochie Esther
July 10, 2025
0
Starlink

After years of anticipation and navigating a complex regulatory landscape, Elon Musk's satellite internet venture, Starlink, has finally received the definitive green light to launch commercial operations in...

Read more

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

by Anochie Esther
July 10, 2025
0
Nvidia

Nvidia, the undisputed leader in graphics processing units (GPUs) and a pivotal force in the artificial intelligence (AI) revolution, achieved a historic milestone on Wednesday, July 9, 2025....

Read more
Next Post
SVB's Collapse Sparks Caution from Fed on Rate Hikes

SVB's Collapse Sparks Caution from Fed on Rate Hikes

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?