The cryptocurrency market is experiencing a positive trend. In recent days, Bitcoin reached its highest value of 2023, surpassing $38,000. Today, Ethereum also reached a new peak for 2023, indicating a bullish sentiment in the market.
Bitcoin reached $39,705, the highest value of 2023, and was trading at $39,322 at the time of writing. The leading altcoin Ethereum also reached a new peak for 2023 at $2,186, and experienced a slight pullback after reaching this level. As of now, Ethereum is trading at $2,153.
This sharp increase in the cryptocurrency market also led to liquidations. Within the past hour, there was a $51 million liquidation in short positions, while long positions saw approximately $5 million in liquidations.
According to Coinglass data in the past 24 hours, there was a liquidation of $90 million in short positions and $20.64 million in long positions. This resulted in a significant amount of liquidations alongside the market’s upward trend.