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Bitcoin breaks $24,000 for the first time in 6 months

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

The price of the digital currency “Bitcoin” rose during trading today, Thursday, to $ 24,000 for the first time in two weeks, which is the highest price reached since mid-August.

Almost $70 million in bets have been liquidated by investors, according to data aggregator GlassNode.

Rates have risen on the fall in the price of bitcoin after a series of regulatory measures in the US this month regarding crypto services.

Recent U.S. actions, such as the discontinuation of the Binance USD (BUSD) stablecoin, have created new uncertainty around digital assets. Restrictions are also one of the reasons that have slowed down the recovery of cryptocurrencies after the 2022 recession.

Previously, Benedik Ski, head of research at Arcane Research, wrote in a note that “Bitcoin may once again be dormant,” noting signs of declining institutional involvement such as a reduction in open positions in CME Group C-group futures.

Source: agencies

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