The Zhitong Finance App learned that Bitcoin once climbed 2.5% to $80,908 during the Asian session on Tuesday (August 25), returning above $80,000 for the first time since May 15. Previously, the cryptocurrency had a cumulative increase of 23% in the seven trading days up to last Sunday, the biggest weekly gain in about three years. The resonance of multiple favorable signals triggered the forced liquidation of multi-billion dollar leveraged positions, and the crypto market, which had been under pressure for a long time, ushered in emotional healing. However, the current price is still far below the historic peak of around $126,000 set in October last year.
Zhitongcaijing · 4d ago
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The Zhitong Finance App learned that Bitcoin once climbed 2.5% to $80,908 during the Asian session on Tuesday (August 25), returning above $80,000 for the first time since May 15. Previously, the cryptocurrency had a cumulative increase of 23% in the seven trading days up to last Sunday, the biggest weekly gain in about three years. The resonance of multiple favorable signals triggered the forced liquidation of multi-billion dollar leveraged positions, and the crypto market, which had been under pressure for a long time, ushered in emotional healing. However, the current price is still far below the historical peak of around $126,000, which was set in October last year.
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